Iran media says draft US deal sees release of $24b frozen assets
US President Donald Trump has said a deal is imminent and has cancelled scheduled strikes against Iran. Iranian officials, however, have said a final agreement has not yet been reached
Reports on 12 June 2026 said a draft peace accord between the US and Iran is under discussion aimed at ending the war that began in February 2026, although officials in Tehran and Washington have given differing accounts of its status.
US President Donald Trump has said a deal is imminent and has cancelled scheduled strikes against Iran. Iranian officials, however, have said a final agreement has not yet been reached, says Arab News.
According to details reported in the draft, the proposed accord includes the release of 24 billion in frozen Iranian assets within a 60-day period, with half of that amount, 12 billion, to be made available before negotiations begin.
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The draft also outlines what it describes as a "permanent and immediate cessation of hostilities on all fronts", including in Lebanon.
On nuclear issues, the memorandum provides for 60 days of talks concerning Iran's nuclear programme with the US. It also indicates that Iran would not cede management of the Strait of Hormuz, which it has kept closed since early in the conflict.
Trump said the deal was approved by the US, Israel and Gulf allies. Iran's foreign ministry has cited new US demands as an obstacle. The office of Israeli Prime Minister Benjamin Netanyahu said Israel is not a party to the memorandum, although it supports objectives such as dismantling Iran's enrichment infrastructure and limiting missile production.
The conflict began on 28 February 2026 with US-Israeli strikes that killed then-Supreme Leader Ayatollah Ali Khamenei. A brief truce in April paused fighting, but efforts to secure a lasting settlement have since stalled.
Despite reports of progress, tensions remain high. Kuwait recently reported Iranian fire targeting its territory, and Iranian military officials have warned of a "harsher response" if US attacks continue.
Iranian state media has remained sceptical of Trump's statements, noting that he has previously claimed a deal was imminent on numerous occasions in recent months.
