U.S. President Donald Trump said on Friday he would soon decide on a proposed deal to extend the ceasefire with Iran, though differences remain on key conflict issues. Trump said he would make a "final determination" in a secure White House room on a proposal to extend the April truce for 60 days, giving negotiators time for a permanent end to the war.
A White House official said the meeting lasted two hours, but did not disclose whether Trump made a decision. "President Trump will only make a deal that is good for America and satisfies his redlines. Iran can never possess a nuclear weapon," the official said.
A senior Iranian source told Reuters an agreement was close but not yet approved. Trump also demanded Iran end its chokehold on the Strait of Hormuz and dismantle its nuclear weapons capability, conditions Tehran has not agreed to.
"Iran must agree that they will never have a Nuclear Weapon or Bomb. The Hormuz Strait must be immediately open, no tolls, for unrestricted shipping traffic," Trump said. Iran's semi-official Fars news agency called Trump's comments an "attempt to portray a fabricated victory."
The senior Iranian source said the potential deal does not include nuclear-related issues. Iran's Foreign Ministry spokesperson said the strait's management must be decided by Iran and Oman. Fars said the strait would reopen under Tehran's conditions after the U.S. lifts its blockade on Iranian ships.
Treasury Secretary Scott Bessent said the blockade would be removed slowly if it happens. Fars reported an agreement to release $12 billion of Iran's frozen assets. Trump said no money would be exchanged "until further notice."
Oil prices fell and stocks rose on the news. Trump faces pressure to reopen the Strait of Hormuz and lower gasoline prices ahead of November elections, while risking backlash from Iran hawks in his own party.
The war launched by the U.S. and Israel on February 28 has killed thousands, mainly in Iran and Lebanon, and caused global economic pain. Kazakhstan has signaled willingness to take Iran's uranium stockpile in a deal. Iran also wants sanctions lifted, U.S. forces withdrawn, and an end to Israel's offensive in Lebanon.
