The US and Iran are negotiating a three-page plan to end the war, one element of which is that the US will unfreeze $20 billion in Iranian funds in exchange for Iran giving up its stockpiles of enriched uranium.
It became known Axios from US officials and two additional sources briefed on the talks.
The talks are expected to take place in Islamabad, likely on Sunday, according to a source familiar with the mediation efforts.
Pakistan is acting as a mediator in the negotiations, with the support of Egypt and Turkey behind the scenes.
A priority for the Trump administration is to ensure that Iran does not have access to the stockpile of nearly 2,000 kg of enriched uranium hidden in its underground nuclear facilities, including up to 450 kg enriched to 60% purity.
Meanwhile, the Iranians need money.
The parties are negotiating what will happen to these stocks and how much of Iran’s assets will be unfrozen. They are also discussing the conditions under which Iran will be able to use these funds.
According to two sources, at the previous stage of negotiations, the United States was ready to allocate $6 billion to Iran for the purchase of food, medicine and other humanitarian goods. The Iranians demanded 27 billion dollars.
According to sources, the latest figure discussed by the US and Iran is $20 billion. One US official said it was a US offer. Another US official described the concept of “money for uranium” as “one of many discussions”.
Meanwhile, the US asked Iran to agree to send all its nuclear material to the US, while the Iranians agreed only to “dilute” it on Iranian soil.
Under the compromise proposal currently under discussion, some of the highly enriched uranium would be sent to a third country, not necessarily the US, and some would be diluted in Iran under international supervision.
The three-page memorandum of understanding the parties are negotiating also includes a “voluntary” moratorium on Iran’s uranium enrichment.
During the last round of negotiations, the US demanded that Iran agree to a 20-year moratorium. Iran offered five years. Mediators are still trying to resolve this discrepancy.
It is unclear whether the memorandum covers Iran’s ballistic missiles and its support for regional allies.
The media reported that Iran and the United States made progress in the negotiations mediated by Pakistan, but significant differences still remain between the two sides, particularly over Tehran’s nuclear ambitions.
It will be recalled that the Minister of Foreign Affairs of Iran, Abbas Araghchi, stated that in accordance with the terms of the cease-fire in Lebanon, passage for all merchant vessels through the Strait of Hormuz is declared fully open during the ceasefire.
US President Donald Trump responded to the announcement by saying that the blockade of Iranian ports “will remain in full force and effect” until the US-Iran deal is “100% implemented”.
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