Trump claims Iran deal reached, Tehran says no "final decision"

• Iran's Fars news agency denied any deal had been agreed, but said there was a "possibility" Tehran would consider signing off.
• Trump told reporters in the Oval Office on Wednesday afternoon that his understanding was that the Iranian Supreme Leader Mojtaba Khamenei had given his approval.
• While the memorandum of understanding under negotiation is intended to open the strait and lift the U.S. blockade, any agreements on Iran's nuclear program and the lifting of U.S. sanctions would require further negotiation.

What he's saying: "Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening," Trump wrote on Truth Social.

• He added that the final points of the deal have been, "in both concept and great detail, approved by all parties involved," including the U.S., Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan and Egypt.
• Trump also said the blockade would remain "until this transaction is finalized," and that Iran would agree to never have a nuclear weapon.

The other side: Fars, a semi-official news agency affiliated with Iran's Revolutionary Guards, quoted an "informed source close to Iran's negotiation team" as saying that "no text for a preliminary memorandum of understanding with the United States has been approved."

• But a later report claimed the U.S. had accepted "Iran's proposed text," and as a result the regime could "reconsider and review the agreement once again."
• Iranian Foreign Ministry Spokesperson Esmail Baghaei said an agreement hasn't been finalized yet. "Most of the text had already been finalized, but the Americans kept changing their positions," he said.
• "Iran has demonstrated that it does not compromise on what it has defined as its red lines," he added. "Iran has not yet reached a final decision regarding an agreement."

Behind the scenes: Negotiations continued late into Wednesday night in Tehran as Qatari envoy Ali Al-Thawadi and Iranian Foreign Minister Abbas Araghchi worked to bridge the remaining gaps between the U.S. and Iran.

• According to three sources briefed on the talks, the Qataris and the Iranians believed on Wednesday that they had reached an agreed-upon text that the U.S. would also accept.

The sources said the gaps were narrowed on three key issues:

• The mechanism for releasing Iran's frozen assets — the most important issue for the Iranians.
• Arrangements for reopening the Strait of Hormuz during the 60-day ceasefire period.

• How negotiations over Iran's nuclear program would be conducted during the 60-day ceasefire period.

According to the sources, Iranian officials told several countries on Thursday that the Tehran talks produced an agreement in principle, but Khamenei still needed to give final approval.

• The sources noted that both the Iranians and the Qataris had emphasized that the U.S. strikes overnight significantly increased Iranian suspicions about Trump's real intentions.
• Earlier on Thursday, Trump had announced the U.S. would "be hitting Iran VERY HARD TONIGHT."

The latest: Trump said he spoke on the phone with Israeli Prime Minister Benjamin Netanyahu, Qatari Emir Tamim al-Thani and other regional leaders.

• "Although Israel is not a party to the memorandum of understanding, the Prime Minister expressed his appreciation for President Trump's commitment that the final agreement resulting from the negotiations will include the removal of enriched nuclear material, the dismantling of enrichment infrastructure, limits on missile production, and an end to Iran's support for its terrorist proxies in the region," the Israeli prime minister's office said.
• Trump told Qatar the understandings reached "have received the approval of all relevant parties," the emir's office said in a statement.

The intrigue: Netanyahu did not have advanced notice and was caught by surprise when Trump released his initial statement about the deal, according to a source with knowledge.

What to watch: Trump said the memorandum of understanding could be signed over the weekend in Europe and that Vice President Vance was expected to lead the U.S. delegation.

• "The documents are in very final shape so we will see," he said.
• The White House has believed a deal was imminent at several points during the conflict, only to see negotiations break down again.

Go deeper: Trump boils over after Tehran kept him waiting

This is a breaking news story and has been updated throughout.