ERBIL, Kurdistan Region of Iraq - US President Donald Trump on Thursday said that he has "just made a great settlement of the war with Iran" and that the final signing may occur "over the weekend in Europe," despite Iranian media reporting that Tehran has not approved any prospective text for the accord.

Earlier in the day, Trump cancelled planned strikes on Iran, claiming that "discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved," and adding that several other regional states, including Israel, have similarly given the green light to the proposal.

Fars News Agency, an Iranian outlet with close links to the Islamic Revolutionary Guard Corps (IRGC) reported soon after that Tehran has not approved any text of the initial memorandum of understanding, citing a source close to the Iranian negotiating delegation.

Similarly, Israel's Channel 12 reported that the announcemnt had taken Israeli leaders by surpirse and they had not been aware an agreement was pending.

"We just made a great settlement of the war with Iran," Trump told reporters in the Oval Office. "We're going to be subject to finalization of documents, which should get done over the next few days. We'll probably have a signing, maybe in Europe — and it's a great thing."

When asked if Iranian Supreme Leader Mojtaba Khamenei had approved the deal, Trump said "I understand the answer is yes."

US President Donald Trump on Thursday said that he has "made a great settlement of the war with Iran" and that the signing may occur "over the weekend in Europe," despite Iranian media reporting that Tehran has not approved any prospective text pic.twitter.com/WBb7STzAti

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The president added that he would not be able to personally attend the supposed signing of the deal, though noting that Vice President JD Vance would be able to appear in person.

"They want it every bit as much as everybody else wants it," Trump said regarding Iran, adding that "the Strait [of Hormuz] will officially open as soon as we sign."

Iranian restrictions on the Strait of Hormuz following the US-Israeli military camapign that began in late February resulted in spiraling energy prices in the US and Europe, with Washington retaliating by imposing a naval blockade of Iranian ports.

In his Truth Social post in which he canceled strikes on Iran, the president wrote that "the Naval Blockade will remain in full force and effect until this Transaction is finalized."

Tensions between the US and Iran have manifested in renewed violence in the past days despite the existence of a ceasefire. Merely some hours before announcing the supposed agreement, Trump wrote on Truth Social that "The United States will be hitting Iran…VERY HARD TONIGHT."