Iranian Foreign Minister Abbas Araghchi. File
| Photo Credit: PTI
A day after U.S. President Donald Trump backed away from a threatened attack on Iran, claiming progress in talks, Iran’s Foreign Minister Abbas Araghchi said on Friday (June 12, 2026) that Washington and Tehran have “never been closer” to reaching a preliminary agreement.“The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content. In line with our responsible and transparent approach, all details will be shared with the public in due course,” Mr. Araghchi wrote in a social media post.West Asia War LIVE updates - June 12, 2026His comments came after Iran’s Mehr news agency, citing a source close to the country’s negotiating team, claimed that the deal would see “the release of $24 billion of Iran’s blocked funds during the 60-day final negotiation period”. According to a draft of the agreement released by Mehr, there would be a permanent halt to fighting on all fronts, “including Lebanon”.The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content. In line with our responsible and transparent approach, all details will be shared with the public in due course.— Seyed Abbas Araghchi (@araghchi) June 12, 2026It also calls for lifting the U.S. blockade of Iranian ports and reopening the Strait of Hormuz within 30 days. Sanctions on Iranian oil and petrochemical revenues would be suspended, and nuclear negotiations would be held during the 60-day period to reach a final agreement.U.S. President Donald Trump, who on Thursday (June 11, 2026) told reporters in Oval Office that “a great settlement” with Iran was reached, “subject to finalisation of documents”, on Friday (June 12) dismissed the reports about the content of the deal as “fake news”.“The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing. What they said, including their weak statement on having a deal, bears no relation to the truth,” he wrote in a social media post. Mr. Trump also claimed that Iran carried out drone attacks at Indian ships in the Strait of Hormuz. “They better get their act together, and FAST!”Vice-President J.D. Vance also slammed the spread of “fake information” about the terms of the proposed deal. “First, the Iranians are not receiving any cash, and no funds are being released for simply signing a deal or attending a meeting,” he wrote in a social post. “The deal is structured to ensure that the US and its allies concerns are prioritized, and that if the Islamic Republic of Iran meets its obligations, then economic benefits will flow to them and to the entire region.”Earlier in the day, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said in Tehran that a “potential understanding” was “close to completion”, but blamed the contradictory positions” of the U.S. for the delay in finalising the deal.“The text has almost been finalised in its major parts. The problem is that the contradictory positions of the United States have always caused turbulence and disruption in this process,” Mr. Baghaei said at a press briefing.He added that Iran would not compromise on its red lines. Iran has rejected U.S. pressure so far to export its highly enriched uranium out of the country and dismantle its enrichment infrastructure.Qatar’s leader Sheikh Tamim bin Hamad al-Thani said mediation efforts had “led to progress in the proposals under discussion within the framework of ongoing negotiations”, but did not confirm Mr. Trump’s claim that a deal had been finalised. Published - June 12, 2026 09:32 pm IST
