Efforts to reach an interim deal to end the war in Iran have intensified amid increased attacks, with both sides discussing the release of frozen Iranian funds, according to a new report.
Reuters detailed that Washington and Tehran are exchanging messages about the release of frozen Iranian funds, part of a memorandum of understanding to halt the war.
Iranian sources told the outlet that a political understanding has been reached, but there are some details still being discussed, particularly related to the mechanism to release the funds from foreign banks.
"Iran wants $6 billion to $12 billion of its frozen funds to be released to Tehran, while Washington wants to release funds in stages for humanitarian goods and rejects returning funds to Iran outright," one of the people with knowledge of the matter said.
The development comes as both sides intensified attacks on Wednesday and Thursday. An Iranian source told Reuters that despite this, the war is at a stalemate. "The recent military confrontations could be preparations for announcing an agreement. Of course, anything is possible, even a return to full-scale war," the person said.
However, Iranian officials have also been reacting with defiance to the latest U.S. attacks. The country's foreign ministry issued a statement on Thursday condemning them and calling them a "flagrant violation" of international law that "effectively rendered the April 8 ceasefire meaningless."
The document went on to say that the Trump administration will be responsible for the "extremely dangerous consequences" of the attacks.
Elsewhere, the Persian Gulf Strait Authority (PGSA), a newly created entity aimed at managing navigation through the Strait of Hormuz and charging fees for it, said the key waterway would be "closed until further notice."
The body cited "tensions caused by the aggressive U.S. forces" and the Iranian Army's decision to close the Strait. It asked for "applicants who have obtained transit permits to remain patient and await further notice."
The U.S. Central Command said it carried several rounds of attacks against "multiple targets" in Iran on Wednesday.
"CENTCOM forces launched strikes on Iranian military surveillance capabilities, communication systems, and air defense sites across Iran. U.S. Marine Corps, Air Force, and Navy assets fired precision munitions on Iranian targets that posed a threat to U.S. forces and international commercial ships transiting regional waters. The strikes are in response to Iran's unwarranted and continued aggression. U.S. forces remain vigilant, lethal, and ready," it added.
