A US government official has pushed back against Iranian state media reports claiming that a proposed Memorandum of Understanding between the two countries would unlock $12 billion in frozen assets held in Qatar. The official stated flatly that the agreement is entirely performance-based, with no upfront payments involved.

A senior US official went further, labeling the reported MOU terms a “complete fabrication.”

Two countries, two narratives

Here’s what Iranian state television reportedly told its audience: that a future deal would grant Tehran full access to $12 billion in frozen assets within a 60-day timeframe. Iranian negotiators have allegedly demanded guaranteed access to these funds as a precondition for moving forward with talks.

The American side sees it differently. US officials insist that no cash transfers or asset unfreezes would occur simply because a document gets signed. Any release of funds, they maintain, would be contingent on Iran meeting specific benchmarks.