Iran state TV says draft deal with U.S. includes releasing $12 billion in assets

New Delhi ( Vivek Ojha ) : Iranian state media reported that a proposed memorandum of understanding with the United States included an agreement to release $12 billion in frozen assets. The report cited an “unofficial” draft of the memorandum, and a similar item carried by state TV earlier this week was dismissed by the White House as a “fabrication”. Iran’s state TV on Saturday released details of what it said was an unofficial draft of the Islamabad agreement, saying the text would give Tehran broad authority over traffic through the Strait of Hormuz and require the United States to provide Iran full access to $12 billion in frozen assets within 60 days.

The funds would be “transferable and spendable” in destination banks chosen by Iran “without restrictions,” according to the unofficial text cited by Iranian state TV.

The money has become a sticking point in talks, with Iran insisting that meaningful negotiations cannot begin without the funds’ release.

It comes a day after U.S. President Donald Trump issued his own detailed characterisation of a potential agreement aimed at halting the war between the two foes, key elements of which were likewise disputed by Iranian sources.

Saturday’s state TV report said, “the United States has pledged to provide Iran with full access to $12 billion of its assets within 60 days, so that these resources can be transferred and spent in banks of Iran’s desired destination without restrictions.”