US President Donald Trump said Washington and Tehran are 'very close' to finalizing an agreement, according to an interview with CBS News published on May 24, 2026. He noted that the situation is improving daily but declined to share details, saying he could not disclose information before informing the other party. Sources familiar with the talks told CBS News that the latest proposal includes reopening the Strait of Hormuz, releasing some of Iran’s frozen assets in foreign banks, and continuing negotiations.

Trump claimed the potential deal would prevent Iran from acquiring nuclear weapons and that uranium enrichment issues would be handled satisfactorily. He emphasized that he would only sign an agreement that meets all US demands. CBS sources said Trump is still reviewing proposals, consulting advisers, and maintaining contact with Gulf leaders, including those in Saudi Arabia. US officials indicated that Trump is expected to hold phone calls with several Gulf leaders on Saturday, with Iran expected to dominate the discussions.

Trump warned that failure to reach a deal would bring severe consequences for Iran, while US Secretary of State Marco Rubio said progress had been made and a new announcement could come within days.