US President Donald Trump announced on May 29, 2026, that he was heading to the White House Situation Room to make a “final determination” on a potential agreement with Iran, signaling a decision could be imminent.
Key Conditions for a US-Iran Agreement
Trump outlined several critical conditions for the proposed deal. He stated that Tehran must permanently abandon any ambition of acquiring a nuclear weapon, emphasizing that Iran “never have a nuclear weapon or bomb.”
Another primary condition is the immediate and unrestricted reopening of the strategically vital Strait of Hormuz. Trump insisted that Iran must guarantee the Strait remains fully open for commercial shipping traffic in both directions, free of tolls or interference. This includes removing all remaining naval mines in the waterway, with Trump claiming the United States had already detonated “numerous” mines during its operations. Vessels currently stranded in the Strait due to what Trump described as an “unprecedented Naval Blockade” would also be allowed to return home once the blockade is lifted.
Furthermore, the President claimed that enriched nuclear material, which he said was buried deep underground after a B-2 bomber strike 11 months prior, would be unearthed and destroyed. This operation, he asserted, would be a joint effort involving the United States, Iran, and the International Atomic Energy Agency (IAEA), with only the US and China possessing the technical capability for such a task.
Financial Terms and Conflicting Reports
Trump clarified that no money would be exchanged under the proposed arrangement “until further notice,” noting that several “less important” issues had already been agreed upon.
Despite Trump’s statements, Vice President JD Vance told reporters that Washington and Tehran were “not there yet” on an initial agreement, though he added that both sides were “very close” to reopening the Strait of Hormuz, extending a ceasefire, and continuing nuclear program negotiations. Meanwhile, Iranian state media, citing sources close to their negotiating team, dismissed suggestions from Western sources as “incorrect,” stating that no agreement had been “finalized nor confirmed.”