Trump said Iran had agreed to suspend its nuclear program indefinitely and would not receive any frozen funds from the United States. Trump said in a phone interview on Friday that a deal to end the war was largely complete. He said talks to reach a lasting deal "could" take place this weekend.
"Most of the key points have been finalized and progress will be rapid," Trump said.
Iran has not yet commented on any deal other than opening the Strait of Hormuz, or on Trump's assertion on Thursday that Tehran had made concessions on key issues including its nuclear program.
Trump said he had not yet decided who would lead the U.S. delegation in talks with Iranian officials to sign the deal. Asked whether he would travel to Pakistan, where the previous round of talks was held, Trump said "I probably would."
Vice President J.D. Vance led a delegation to hold talks with Iranian officials over the weekend. Trump said he was considering sending Vance, son-in-law Jared Kushner and special envoy Steve Witkop along for additional talks.
Trump denies that the moratorium on Iran's nuclear program will expire in 20 years. Asked whether the program would be halted entirely, Trump responded: "No year limit, indefinitely."
Details of any potential deal remain unclear and unconfirmed, but some elements being discussed bear some similarities to the 2018 deal that Trump unilaterally withdrew the United States from.
At the time, Trump called the 2013 Joint Comprehensive Plan of Action "the worst deal in history" because it conditional on Iran agreeing to limit uranium enrichment in exchange for easing sanctions on Tehran.
Axios reported, citing two U.S. officials and two other unnamed people familiar with the negotiations, that one of the discussions was that the United States would release $20 billion in frozen Iranian funds in exchange for Iran giving up its enriched uranium stockpile.
Trump refuted this content in a telephone interview, saying "no" repeatedly when asked whether he would release the $20 billion in assets or any Iranian funds.
The situation in the key Hormuz waterway remained unclear on Friday. Iran previously said it would open the strait during a 10-day ceasefire between Israel and Lebanon.
Trump welcomed the move but noted that the United States would continue to block ships entering and leaving Iranian ports until Washington and Tehran reach a "100 percent" broader agreement.
Iran said through its semi-official Fars news agency that it would close the strait again if the U.S. blockade continued. The semi-official Tasnim news agency added that transit vessels must be coordinated with the Iranian military.
Many traders and analysts remain skeptical that shipping can resume quickly and materially as the U.S. blockade remains in place and Iran has yet to confirm whether it will open the strait to all shipping outside of the ceasefire period.