over Iran’s nuclear programme<\/a> – Trump’s stated rationale for starting the war – would take place afterwards.<\/p>\n“Iran is going to open up the Strait of Hormuz, that’s a requirement. It could be open with no tolls. As they do that, we will lift our blockade,” the US official who spoke on Saturday (US Time) said.<\/p>\n
“It’s going to happen in conjunction, and part of the next step, the phase after that, is going to be the demining of the straits,” the official said, indicating countries in the Group of Seven major powers could have a role in this.<\/p>\n
Frozen Assets<\/p>\n
Draft terms described to Reuters by multiple sources indicate the US would begin releasing billions of dollars in frozen Iranian assets and waive sanctions on its oil exports, in return for Iran opening the strait.<\/p>\n
Iran’s Fars news agency quoted Baghaei as saying the release of Iran’s frozen assets was an integral part of the agreement and also that Iran would have to charge for services in the Strait of Hormuz.<\/p>\n
Fars also quoted him as saying foreign military bases in the region must end without providing details.<\/p>\n
Iran’s nuclear programme would be addressed during a 60-day period of talks. A US official said the agreement would ultimately lead to the dismantling of Iran’s nuclear programme, with its stockpile of highly enriched uranium to be destroyed and removed.<\/p>\n
But Araqchi said that Iran, which sources said has not accepted the dismantling of its nuclear programme, wanted to retain the uranium in diluted form.<\/p>\n
The proposals also include discussion of possible war reparations for Tehran and dropping longstanding US demands for limits on Iran’s missile programme, the sources said. The US official disputed that account.<\/p>\n
Israel not party to memorandum<\/p>\n
Israeli Prime Minister Benjamin Netanyahu said his country would not be party to the agreement. He has clashed with Trump over US demands that Israel curb military action in Lebanon to allow Washington to reach a deal with Tehran.<\/p>\n
Araqchi said the agreement would end the war in Lebanon, implying an Israeli withdrawal from occupied areas.<\/p>\n
![\"Israel\u2019s](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/05\/4JONJFQ_AFP__20260421__A8H73AK__v1__HighRes__IsraelConflictMemorialDay_jpg.jpeg\")
<\/p>\n
\nIsraeli Prime Minister Benjamin Netanyahu.
\nPhoto: AFP \/ Pool\n<\/p>\n
Israel’s defence minister said it would not withdraw. A senior Israeli official said Israel expects to retain its freedom to act against threats.<\/p>\n
Iran’s supreme leader, Ayatollah Ali Khamenei, was killed in an airstrike on the first day of the war and later replaced in the role by his son Mojtaba.<\/p>\n
Khamenei’s funeral will begin in Tehran on July 4 and conclude with his burial in his hometown, the northeastern holy city of Mashhad, on July 9, Iranian state media reported on Saturday (US Time).<\/p>\n
– Reuters <\/p>\n","protected":false},"excerpt":{"rendered":"By Eman Abouhassira, Steve Holland and Saad Sayeed, Reuters US President Donald Trump. Photo: KENT NISHIMURA US says…\n","protected":false},"author":2,"featured_media":475961,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[48,47,42,43,49,46,44,45,40,38,41,39],"class_list":["post-475960","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-audio","tag-current-affairs","tag-headlines","tag-news","tag-podcasts","tag-public-radio","tag-radio-new-zealand","tag-rnz","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/475960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=475960"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/475960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/475961"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=475960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=475960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=475960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"US](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/06\/4JN24GR_AFP__20260611__B6TM8NV__v1__HighRes__UsPoliticsTrump_jpg.jpeg\")
<\/p>\n![\"Iranian](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/06\/4JSK62C_AFP__20260113__MEI_LBN_FI_IFMVL_20260109_012__v1__HighRes__IranForeignMinisterVisits_jpg.jpeg\")
<\/p>\n