US President Donald Trump asserted that Iran had released misleading information about the possible terms of a Washington-Tehran agreement. He added that there is no such thing as negotiating in good faith with Iranian leaders, according to a post on Truth Social on Friday.

The terms Iran shared with media outlets have no connection to the written terms that were actually agreed upon, Trump stated. He described the Iranian side as very dishonorable and noted that dealing with them lacks any element of good faith.

Trump also called Iran's Thursday night drone attack on ships in the Strait of Hormuz totally unacceptable and urged Iranian leaders to get their act together.

According to Reuters, a senior Trump administration official said the emerging deal would dismantle Iran's nuclear program, destroy and remove all nuclear materials, and prevent Iran from continuing to fund terrorist proxies in the region.

The official noted that the agreement would be performance-based, with none of Tehran's frozen assets released until Iran completes its obligations under the pact.

Iranian state media claims deal would unfreeze assets and end fighting in Lebanon

Earlier on Friday, Iranian state media site Mehr reported that a full ceasefire deal between the United States and Iran would include an end to fighting in Lebanon along with the initial release of 12 billion dollars in funds for Iran.

US-based media outlet Bloomberg also reported that the US and Iran are moving closer to an agreement to reopen the Strait of Hormuz ahead of the Group of Seven world leaders meeting next week, citing senior officials.

A draft of the deal still awaits approval from Iranian officials, Mehr reported, and the final agreement would receive approval from the United Nations Security Council.

As part of the deal, the US would reportedly lift sanctions on Iranian oil and petrochemical products, granting Iran full access to its frozen assets. Mehr stated that the total amount of funds reaches 24 billion dollars, with half released to Iran before further talks begin.

Among other claimed concessions, the US would agree not to intervene in internal Iranian affairs and would withdraw its forces from areas near Iran.

Mehr also claimed that the blockade of the Strait of Hormuz would be lifted and that the strait would be fully reopened within 30 days of the deal's signing.

Regarding Iran's nuclear ambitions, the deal only specifies a 60-day negotiation period to establish a final nuclear agreement.

Iran's ballistic missile program and its support for proxy groups across the Middle East such as Hezbollah would not be included in the negotiations, according to Mehr.

Trump cancels Iran strikes and announces deal

On Thursday night, US President Donald Trump announced that he had canceled scheduled strikes and bombings against Iran after a deal with Iran had been reached.

The deal, also known as a memorandum of understanding, was approved both in concept and great detail by all involved parties, including the US, Israel, Saudi Arabia, the United Arab Emirates, Qatar, and multiple other Middle Eastern countries, Trump wrote.

No date was given for the signing, but Trump said it could occur over the weekend in Europe, with US Vice President JD Vance set to attend.