US mulls releasing $20B in frozen Iranian assets in lieu of its enriched uranium stockpile: Report

The US is considering releasing $20 billion in frozen Iranian assets in exchange for Iran relinquishing its stockpile of enriched uranium, the Axios news outlet reported on Friday, citing US officials.

The report said that Washington and Tehran are in talks over a three-page framework aimed at ending the conflict that began on Feb. 28.

Discussions have made consistent progress this week, though “significant gaps remain,” the report said.

US President Donald Trump said Thursday that the US is “very close” to making a deal with Iran, as a two-week ceasefire between the two countries nears its expiration on April 22.

The report mentioned that a top priority for the Trump administration is ensuring Iran cannot access the stockpile of nearly 2,000 kilograms of enriched uranium buried in its underground nuclear facilities, in particular the 450 kilograms enriched to 60% purity.

Iran, on the other hand, is seeking financial relief, according to the report.

Negotiators are still working out how much of Iran’s frozen assets would be released and what would happen to its nuclear material.

There is also disagreement over the handling of Iran’s uranium stockpile. The US has proposed transferring all of it out of Iran, while Iran has suggested diluting it domestically.

A compromise now being considered would involve sending part of the highly enriched uranium to a third country and diluting the rest within Iran under international supervision.

The three-page draft memorandum of understanding (MoU) also includes a voluntary pause on Iran’s uranium enrichment activities. The US has proposed a 20-year freeze, while Iran has countered with a five-year freeze, leaving negotiators to bridge the gap.

The agreement would allow Iran to maintain nuclear research reactors for producing medical isotopes, provided all facilities are above ground, and existing underground sites remain out of commission.

Additional elements of the MoU reportedly address the Strait of Hormuz, though disagreements persist.