Efforts to negotiate a temporary agreement to cease hostilities between Iran and the United States have escalated as the warring parties explore how to release frozen Iranian funds, according to reports.
Three Iranian officials and a European official told Reuters on Thursday that despite the continued conflict between Tehran and Washington, Iran and the United States were still communicating about specifics of a memorandum of agreement.
Tens of billions of dollars in Iranian oil profits frozen in foreign banks were among the concerns that needed to be thoroughly explored, according to Iranian sources, even though a political consensus had been reached. One of the Iranian sources stated, "Washington wants to release funds in stages for humanitarian goods and rejects returning funds to Iran outright, while Iran wants $6 billion to $12 billion of its frozen funds to be released to Tehran."
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A senior European source said: "Right now, talks are focusing very precisely on the technical details and the financial amount - in short, the level of liquidity available to Iran."
According to Iranian insiders, the religious establishment prioritises a framework that can liberate its frozen assets and terminate the war, rather than a complete settlement, to ensure its own existence.
According to one Iranian source, there is no way for either side to end the military standoff. From a military perspective, this conflict is over. By striking Iran, the Americans were unable to accomplish their objectives. Negotiations have advanced," he stated. The recent military skirmishes may be a prelude to an announcement of a deal. Naturally, everything is conceivable, including a return to full-scale conflict.
Donald Trump, the president of the United States, has threatened to increase bombing while also saying that a settlement is near.
According to analysts, he was worried about how any deal with Iran would compare to the 2015 nuclear accord between Tehran and international powers during the administration of then President Barack Obama. Trump denounced the conditions of the deal, notably the money given to Iran.
On May 24, Trump wrote on his Truth Social account that any agreement he reached with Iran "will be a good and proper one, not like the one made by Obama, which gave Iran massive amounts of CASH, and a clear and open path to a Nuclear Weapon".
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Tehran's hold on the Strait of Hormuz and the US blockade of Iran's ports have maintained mutual pressure, raising economic costs and the possibility of fresh conflict. Tehran wanted the US naval blockade eased, according to another Iranian source, citing economic hardships.
According to the sources, Iran wants a "no war, no peace" situation to end for several reasons, including economic pressures and a populace worn out by conflict and uncertainty. Iran's President Masoud Pezeshkian stated on Wednesday that "war is definitely not in Iran's interest."
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