Accounts differ on whether formal negotiations between the United States and Iran have commenced. A senior White House official stated, 'False. The meetings have not even started yet,' according to WIONews.com and Bluesky. In contrast, Iran's state media reported that a draft memorandum of understanding (MOU) with the United States has been circulated, according to ROIC.ai. The draft, if verified, describes mutual commitments to non-aggression and de-escalation, and proposes that U.S. military forces withdraw from the vicinity of Iran and lift a naval blockade in the Gulf.

There is also disagreement over access to Iran’s frozen assets, which include oil revenues, foreign exchange reserves, and other state-controlled holdings accumulated over years of restricted trade, according to WIONews.com. Iranian media, as reported by Bluesky, claim Tehran will receive immediate access to frozen funds simply for signing an agreement. U.S. officials adamantly deny this, according to Bluesky. Iran demands the immediate release of 50% of its frozen assets upon any understanding with the U.S., according to PressTV. The U.S. denies Iran’s claim that it will receive $12 billion from its frozen assets, according to TASS, and states Iran will not be able to access that amount unconditionally before a 60-day negotiation period begins, according to TASS. The United States firmly denied claims that it had agreed to release Iran’s frozen assets, according to WIONews.com.

An unnamed Iranian source suggested progress had been made in negotiations, according to WIONews.com. Iran’s state media, as reported by PressTV, stated Tehran would only consider any draft agreement final if its 'interests and concerns are fully considered.' A U.S. official said Iran would receive 'gestures' — sanctions relief or frozen fund access — in exchange for gestures of compliance, according to Bluesky. The contradiction indicates that the talks are uncertain and under close observation.