President Donald Trump said his administration is closing in on a new agreement with Iran but made clear that any financial exchanges remain off the table for now.
In a detailed statement posted on Truth Social on Friday, May 29, Trump laid out stiff conditions for any final deal.
He demanded that Iran commit to never developing a nuclear weapon, open the Strait of Hormuz immediately to all shipping without tolls, and clear any remaining naval mines from the waterway.
Trump Demands Iran Reopen Strait of Hormuz
Trump noted that U.S. forces had already destroyed numerous mines using advanced underwater sweepers. He said Iran must finish removing or detonating any that are left.
The president also addressed ships stuck in the area because of the American naval blockade. That blockade, he said, would lift once the terms are met, allowing vessels to head home.
On the nuclear front, Trump pointed to enriched uranium material buried deep underground after the U.S. B-2 bomber strikes nearly a year ago.
He said the United States and China are the only nations with equipment capable of digging the highly enriched uranium out.
He also revealed that its recovery would happen in coordination with Iran and the International Atomic Energy Agency, followed by complete destruction of the material.
No Cash for Iran ‘Until Further Notice’
He then hinted at the possibilities of money changing hands, noting that the money factor will have to wait until further notice.
“No money will be exchanged until further notice,” Trump wrote. Earlier media reports said Iran would receive all its frozen funds as part of the deal with the U.S.
The comment comes as talks appear to be reaching a critical stage. Trump said he planned to meet in the Situation Room to make a final call on the emerging agreement. He described other, less important items as already settled.
This approach marks a shift from past hard-line positions that outright ruled out any financial concessions.
Trump has long criticized previous administrations for sending cash to Tehran, especially under the 2015 nuclear deal he withdrew from during his first term.
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Iran has been under heavy economic pressure from renewed US sanctions. A flashpoint has been the Strait of Hormuz, a narrow chokepoint for much of the world’s oil supply.
The recent disturbance at the Strait, including a U.S. blockade, has been felt through the world’s energy markets.
Shipping companies have rerouted vessels around the strait at high cost, adding to global inflation pressures on fuel and goods.
Whether money will eventually change hands will likely depend on verification of Iran’s actions regarding the nuclear program and the Strait.
Trump did not set a deadline but said the naval blockade would remain in place until key conditions are met.
His decision to put off money talks appears aimed at maintaining maximum pressure on Iran while giving space for better deal talks.
A Situation Room meeting is expected to review the latest intelligence and diplomatic cables before making decisions.
It was earlier revealed that Iran and the U.S. negotiators had already reached a deal, which was only waiting for Trump’s final approval.
Trump is expected to approve, reject, or direct further negotiations after the crucial Situation Room meeting.
