US-Iran 'never been closer' to deal: Iran's Abbas Araghchi
What's the story
Iranian Foreign Minister Abbas Araghchi has said that the United States and Iran have "never been closer" to a deal on ending the Middle East conflict. He referred to the proposed agreement as the "Islamabad Memorandum of Understanding," named after Pakistan's capital, where previous talks were held. "Pending its finalization, the media should refrain from entering speculation about its content," he added.
Twitter Post
Iranian Foreign Minister Syed Abbas Araghchi's post
The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.
— Seyed Abbas Araghchi (@araghchi) June 12, 2026
In line with our responsible and transparent approach, all details will be shared with the public in due course.
Agreement terms
Proposed deal includes release of $24 billion in blocked funds
Nevertheless, according to Mehr News Agency, which cited a source close to the country's negotiating team, the deal would include the release of $24 billion of Iran's blocked funds during a 60-day negotiation period. It also proposes a permanent ceasefire on all fronts, "including Lebanon." The United States would reportedly lift its blockade on Iranian ports and reopen the Strait of Hormuz within 30 days. Sanctions on Iranian oil and petrochemical revenues would also be suspended.
Content dispute
Trump dismisses Iran's claims as 'fake news'
Despite these reports, US President Donald Trump has dismissed them as "fake news." He claimed that the leaked information from Iran did not match what was agreed upon in writing. "The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing," he said.
Negotiation progress
Qatar's leader acknowledges progress in mediation efforts
Iran's Foreign Ministry spokesperson Esmaeil Baghaei said a "potential understanding" was close to completion but blamed the US's contradictory positions for delays. He said that while the text has been nearly finalized, these contradictions have caused disruptions. Qatar's leader, Sheikh Tamim bin Hamad al-Thani, also acknowledged mediation efforts had made progress but did not confirm Trump's claim of a finalized deal.