The United States and Iran have reached a preliminary understanding on the release of $3 billion during indirect talks held in Doha, Qatar, according to a report by Saudi-based outlet Al Arabiya citing sources on Wednesday. The discussions were mediated by Qatar and Pakistan, with each side communicating through their respective intermediaries. The Iranian delegation, comprising officials from the foreign ministry, central bank, and agriculture ministry, also attended a tripartite meeting with Qatar’s prime minister.

Sources indicated that Iran conditioned the phased release of the funds on progress achieved in the negotiations. The talks also addressed the situation in the Strait of Hormuz, based on a new proposal from Oman. Iranian Deputy Foreign Minister Kazem Gharibabadi said the main goal of the Doha meeting was to review progress in implementing an interim Tehran-Washington agreement.

A senior Iranian official told Reuters that the discussions, which began Tuesday night, focused primarily on the release of Iran’s frozen assets and regional maritime security. A diplomatic source told AFP that the Doha talks were proceeding under a memorandum of understanding and followed up on progress made at the Lake Lucerne conference in Switzerland.