New York Times has reported a proposed 60-day ceasefire agreement between the United States and Iran that includes a massive USD 300 billion (approximately ₹25 lakh crore) reconstruction package along with American investments in the country.

The development comes even as US Defence Secretary Pete Hegseth asserted that Washington remains fully prepared to resume military operations against Iran if necessary.

Reconstruction Package in Draft Deal

According to the New York Times report, the draft agreement outlines significant financial assistance from participating governments to help rebuild Iran. An Iranian official described the proposal as a reconstruction programme aimed at restoring the war-affected nation. The first phase of the deal reportedly focuses on halting hostilities, ensuring smooth commercial shipping through the Strait of Hormuz, and reducing regional tensions.

US President Donald Trump, in a social media post, claimed that Washington and Tehran are close to an understanding on Iran’s nuclear programme. He also mentioned progress on issues related to the Strait of Hormuz and maritime security.

Iran Rejects Trump’s Claims

However, Iran pushed back against these assertions. Iranian Foreign Ministry spokesperson Ismail Baghaei stated that no negotiations on the nuclear issue had taken place. He emphasised that Tehran’s immediate priority remains ending the ongoing conflict. Iranian officials have repeatedly said trust must be earned through concrete actions rather than statements.

Hegseth: US ‘More Than Capable’ of Resuming War

Speaking at the Shangri-La Dialogue in Singapore, US Defence Secretary Pete Hegseth delivered a strong message on American military readiness. He said the United States has sufficient weapons stockpiles and advanced precision munitions to restart operations against Iran if required.

“Our ability to recommence if necessary is more than capable,” Hegseth told the gathering. He added that US stockpiles are well-positioned to support operations both in West Asia and globally. Hegseth also noted that Washington has not turned its back on the Asia Pacific region despite the Iran conflict, saying, “We can do two things at one time.”

Trump Insists on ‘Great Deal’

Hegseth further stated that President Trump is patient and will only accept a “great deal” with Iran. This comes after Trump claimed that under any agreement, Iran would commit to not developing nuclear weapons. He also said the US would lift its naval blockade and that no tolls would be charged on vessels passing through the Strait of Hormuz.

In the past 24 hours, Iran reported that 24 ships had passed through the strategic waterway under controlled conditions.

Regional Tensions Persist

Meanwhile, tensions continue along the Israel-Lebanon border. Air raid sirens sounded multiple times in northern Israel, with the Israeli military intercepting a launch from Lebanon. Israeli Prime Minister Benjamin Netanyahu said forces had pushed deeper into Lebanon despite ongoing security talks.

Israeli and Lebanese military delegations held “productive” discussions in Washington on Friday, which are expected to support broader diplomatic efforts.

Background and Impact

The proposed reconstruction package, if finalised, could mark a significant shift after months of conflict. Iran currently holds around 440 kilograms of uranium enriched to 60%, according to reports. The US has maintained its commitment to preventing Iran from acquiring a nuclear weapon.

The Strait of Hormuz remains critical for global oil supplies, and any disruption there carries major economic implications for India and other energy-importing nations.

Analysts say the coming days will be crucial as both sides assess the viability of the proposed ceasefire and reconstruction framework. A final decision on the agreement is expected soon, according to US officials.