Negotiations between the United States and Iran are reportedly advancing on a three-page draft agreement aimed at ending ongoing hostilities, with discussions focusing on a possible exchange involving frozen Iranian assets and nuclear materials.
According to sources familiar with the talks, one proposal under consideration would see the United States release about $20 billion in frozen Iranian funds in exchange for Iran surrendering its stockpile of highly enriched uranium.
The discussions are part of broader diplomatic efforts involving multiple mediators, with talks expected to continue in Islamabad, where Pakistan is reportedly playing a key facilitation role alongside support from Egypt and Turkey.
The negotiations come amid continued tensions surrounding Iran’s nuclear program, particularly concerns over nearly 2,000 kilograms of enriched uranium, including material enriched to high levels stored in underground facilities.
The United States has reportedly prioritized preventing Iran from retaining access to its enriched uranium stockpile, while Iran has pushed for financial relief, including access to frozen assets as part of any agreement.
Both sides are also debating how the nuclear materials would be handled, with proposals ranging from complete removal to third-party relocation or monitored reduction within Iran.
A key element of the draft understanding includes discussions on limiting Iran’s nuclear enrichment activities, with proposals ranging from a long-term suspension to a shorter moratorium period, though significant disagreements remain.
The draft agreement also touches on restrictions related to Iran’s nuclear facilities, with suggestions that future nuclear activity be limited to above-ground research purposes under international monitoring.
However, major gaps reportedly remain on several sensitive issues, including Iran’s ballistic missile program and its regional alliances, which have historically been major sticking points in negotiations.
While U.S. officials describe progress as cautious but ongoing, both sides continue to hold differing expectations on financial access, nuclear restrictions, and long-term commitments.
