TEHRAN, May 31, 2026 (BSS/AFP) - Iranian state media reported on Saturday 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".

It comes a day after US 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."

In his own description of the deal on Friday, Trump had insisted that "no money will be exchanged, until further notice", which Iranian media reports citing informed sources swiftly refuted.

Earlier this week, a source told AFP that Iran's central bank chief was part of a delegation that visited Qatar "to discuss the issue of frozen funds, which is addressed in the MoU as part of an eventual final deal".

Saturday's state TV report also said that Tehran would continue to manage the Strait of Hormuz, which Iran has blockaded since the start of the war, roiling global markets.

On Friday, Trump had said that Iran would reopen the strait "for unrestricted shipping traffic", and the US has repeatedly said it would be unacceptable for Iran to retain control over the vital conduit for energy shipments.