President Donald Trump speaks at a Turning Point USA event at Dream City Church. (Photo: AP)
US President Donald Trump has said Iran has agreed to suspend its nuclear programme indefinitely, while ruling out any release of frozen Iranian funds, according to Bloomberg News.
In a phone interview, Trump said the proposed moratorium would be “unlimited” and suggested that negotiations were nearing completion. “Most of the main points are finalised. It’ll go pretty quickly,” he said.
Iran has not confirmed Trump’s claim. Tehran has long maintained that it has the right to enrich uranium, leaving uncertainty over the contours of any agreement.
The comments came as Iran announced that the Strait of Hormuz had reopened for commercial shipping, following a ceasefire involving Israel in Lebanon. Several oil tankers that had been waiting in the Persian Gulf began moving towards the strait soon after the announcement.
Trump said talks between the US and Iran were ongoing and would continue over the weekend. “We’ve had some very good discussions,” he told reporters, adding that developments in Lebanon were also contributing to momentum.
The latest signals have raised expectations of a possible deal to end the conflict that began in February, when US and Israeli strikes targeted sites across Iran. Tehran responded with attacks on US bases and energy infrastructure in the region, triggering a spike in global energy prices.
Markets reacted to the easing tensions. Oil prices fell sharply, with benchmark crude dropping as traders anticipated smoother supply flows through Hormuz. Equity markets also extended gains.
However, details of a potential agreement remain unclear. Reports have suggested a proposal under discussion could involve the US releasing up to $20 billion in frozen Iranian funds in exchange for limits on Iran’s nuclear stockpile.
Trump dismissed the idea. Asked repeatedly about any such move, he said “no”, reiterating his opposition to transferring funds to Tehran.
Any deal could carry political risks for Trump, given similarities to the 2015 nuclear agreement negotiated under former US President Barack Obama. Trump withdrew from that pact in 2018, criticising it as inadequate.
Negotiations have also been linked to broader regional developments. A previous round of ceasefire talks in Pakistan did not yield an agreement, but officials have indicated further discussions are likely.
Despite the positive market response, analysts remain cautious about how quickly oil flows will normalise, noting that some restrictions on shipping linked to Iran remain in place.
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President Donald Trump speaks at a Turning Point USA event at Dream City Church. (Photo: AP) 
