WASHINGTON -- A senior US administration official has said the United States and Iran were very close to sealing a deal that would reopen a critical shipping route and dismantle Tehrans nuclear enrichment infrastructure.

Speaking on background to reporters after a closed-door briefing on June 12, the official outlined what he called a straightforward but high-stakes memorandum of understanding, stressing that the agreement remains unsigned but has moved significantly closer to completion.

Were not quite at the finish line yet, but we are very close, the official said, adding that the likelihood of a final signing was around 80 to 85 percent.

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The terms of a proposed agreement have been leaking out -- both in the United States and in Iran --through media outlets.

The accounts have varied slightly on the details, but some appeared to favor Iran, prompting US President Donald Trump to label the reports as having "NOTHING to do with the terms that were agreed to, in writing." He did not specify which terms in the reports were inaccurate.

Citing an unnamed official source, Irans state-affiliated Mehr news agency claimed on June 12 that a draft memorandum between Iran and the United States includes Tehrans commitment not to develop nuclear weapons; a permanent halt to the war on all fronts, including Lebanon; a reopening of the Strait of Hormuz within 30 days; and 60 days of negotiations to reach a final agreement on Irans nuclear program.

Mehr further claimed that other provisions included the lifting of a US naval blockade of Iranian ports, the withdrawal of US forces from areas surrounding Iran, the suspension of sanctions against Tehran, and the release of $24 billion in frozen Iranian funds.

Reports from Iranian state media during negotiations have often been used to float ideas or advance particular positions -- and have frequently proven to be inaccurate or incomplete.

In a social media post, Iranian Foreign Minister Abbas Araqchi said the Islamabad Memorandum of Understanding -- a tentative deal framework negotiated during talks in Pakistan's capital -- "has never been closer" and urged media outlets to avoid speculation while negotiations are being finalized.

Nuclear Dismantlement Front And Center

The senior US administration official said an Iranian commitment to surrender its stockpile of around 440 kilograms of highly enriched uranium was at the core of the proposed agreement.

The official said Tehran has agreed not only to remove the enriched material but also to destroy it under an internationally monitored framework.

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The commitment is indefinite, the US official said, emphasizing that Iran has pledged never to build or procure a nuclear weapon.

Washington said the technical implementation of that dismantlement would unfold over a 60-day negotiation period immediately after the signing, during which inspectors and technical teams would finalize disposal mechanisms and verification standards.

The agreement would also establish what the administration described as a robust inspection regime aimed at ensuring Irans compliance over the long term.

Israel and the United States damaged or destroyed Irans nuclear sites in a bombing campaign in June 2025. But a large stockpile of enriched uranium remains under the rubble, according to the UN nuclear watchdog.

Cash Upfront For Tehran?

Tehran has pushed the United States to release some of the tens of billions of dollars in Iranian funds that have been frozen in foreign banks due to US sanctions.

But the US official pushed back sharply against reports suggesting Iran would receive immediate financial benefits upon signing.

Thats all not true, he said, dismissing claims that billions of dollars in frozen assets would be released as part of the initial deal.