Possible Iran-US deal: What we know

Iran and the United States appeared to be cautiously edging toward a deal to end the war that erupted in late February, despite deep mistrust and a brief military flare-up this week.

Diplomatic exchanges continued even after Tehran accused Washington of violating the ceasefire in place since April, after the US said it launched strikes in southern Iran targeting missile sites and mine-laying boats.

On Wednesday, Iranian state television published what it described as a draft outline of a potential memorandum of understanding between the two sides, while stressing that the text was "still not finalised".

Washington swiftly rejected the report as a "complete fabrication".

Here are the latest reported details surrounding a possible agreement.

Iran has said it is finalising a 14-point framework agreement with the United States prioritising an end to the war "on all fronts", including Lebanon, where Israel has stepped up its attacks on Iran-backed Hezbollah.

Iranian officials have publicly disclosed only broad outlines of the proposal, with further details emerging through Iranian media reports.

On Monday, senior Iranian negotiators travelled to Qatar for talks that state media described as part of the diplomatic process.

The Tasnim news agency reported that Tehran was seeking the release of around $24 billion in frozen Iranian assets abroad as part of the agreement.

Around $12 billion "should be made available at the start of the announcement of the memorandum", Tasnim said.

There is no official figure for Iran's frozen overseas assets, though Iranian media outlets have recently estimated the total at between $100 billion and $123 billion.

Iran has maintained tight control over the Strait of Hormuz, a vital global energy shipping route, since the outbreak of the war, while the United States has imposed a naval blockade on Iranian ports since April 13.

Iranian foreign ministry spokesman Esmaeil Baqaei confirmed that the draft framework included provisions related to ending the US blockade and arrangements governing the Strait of Hormuz.

Iranian state television reported on Wednesday, citing the draft text, that Washington had "committed itself to lifting" the blockade.

In return, Iran would allow commercial shipping through Hormuz to resume "within one month" under conditions similar to those before the war.

The report added that Iran would continue to manage shipping lanes, inspect vessels and impose service fees, but its commitments would not apply to military ships.

Tehran had not agreed "to unconditionally reopen the strait", according to the report.

The White House denied the Iranian reports, adding, "nobody should believe what Iranian state media is putting out," without specifying which details it objected to.

Baqaei said details related to Iran's nuclear programme -- a major sticking point for Washington -- would be deferred to a later stage after agreement on the framework.

Iranian media reported that nuclear-related issues, including enrichment levels and the fate of Iran's highly enriched uranium stockpile, would be negotiated during a 60-day period following the signing of the memorandum.

US President Donald Trump said in a social media post that he expected Iran to surrender its enriched uranium to the United States for destruction, or destroy it inside Iran under international supervision.

"The nuclear fuel will either be immediately turned over to the United States to be brought home and destroyed or, preferably, in conjunction and coordination with the Islamic Republic of Iran, destroyed in place or at another acceptable location," Trump wrote.

One of Tehran's key demands has been guarantees that Washington would honour any agreement, particularly after the United States withdrew from the 2015 nuclear deal during Trump's first term in office.

Under the reported draft framework, Tehran and Washington would enter a 60-day negotiation period after agreeing on the memorandum, though the exact topics for discussion were not specified.

"If negotiations reach a final agreement during the 60-day period, this agreement is expected to be approved by a binding resolution of the United Nations Security Council," the draft said.

"This is the highest level of guarantee recognised in international law," the report added.