Iran's Mehr news agency said on Friday that a draft accord with the United States had set a 60-day negotiation period to reach a deal over Tehran's nuclear programme.

The agency, citing a source close to Iran's negotiating team, said it stipulates "60 days of negotiations to reach an agreement on nuclear issues and the complete lifting of US primary and secondary sanctions".

The memorandum of understanding, Mehr said, would include a "permanent and immediate cessation of hostilities on all fronts, including in Lebanon".

If adopted, it said, the deal would secure the release of US$24 billion in frozen assets within a 60-day period.

It added that half of that sum would be "made available to Iran before the start of negotiations".

Iran's official IRNA news agency meanwhile said under a draft agreement, Tehran would not give up control over the Strait of Hormuz.

"Iran makes no commitment in this text to cede the management of the strait or the restoration of conditions that existed prior to the American and Israeli military aggression," IRNA reported. (AFP)


Edited by Aaron Tam