US and Iran reach preliminary deal to release about $3 billion in funds

DOHA, Qatar — The United States and Iran have reached a preliminary agreement in indirect talks in Doha to release roughly $3 billion in funds in favor of Tehran, according to reports on Friday. The negotiations are being held within the framework of the Strait of Hormuz file, with both delegations set to return to their capitals for further consultations. The talks have been mediated by Qatar and Pakistan, the reports said. While the size of the preliminary deal has been cited in varying figures, the $3 billion amount has been most frequently referenced. US President Donald Trump has favored a diplomatic track but is keeping a military option on the table should the negotiations fail, according to the reports. Following the preliminary deal, the two sides are working on a timetable for a new round of talks, with the final text of the agreement still to be prepared.