Iranian state television said on Sunday that the U.S. agreed to the release of frozen Iranian oil funds under sanctions in other countries, but the U.S. government denied such an agreement. 

Quoting the state channel, the Associated Press said the two sides reached a prisoner swap deal in exchange for the release of seven billion dollars of frozen Iranian funds.

Under the alleged deal, Tehran would reportedly free four Americans accused of spying in exchange for four Iranians held in the United States and the release of the frozen Iranian funds.  

It also said that the U.K. agreed to pay 400 million pounds to free British-Iranian national Nazanin Zaghari-Ratcliffe from an Iranian jail. 

However, according to Reuters, U.S. State Department spokesman Ned Price said reports that a prisoner swap deal has been reached are not true.

An estimated seven billion U.S. dollars of frozen oil money is held at two South Korean banks under U.S. sanctions.