U.S.-Iran deal talks inch forward amid disputes over nuclear stockpiles, Hormuz and assets
U.S.-Iran deal talks edge closer as Washington and Tehran signal a memorandum; nuclear stockpiles, Strait of Hormuz, assets and proxies remain unresolved.
The United States and Iran signaled movement toward a potential U.S.-Iran deal to halt wider hostilities in the Middle East, but key provisions remain disputed and no full text has been released. U.S. and Iranian officials presented differing versions of what a draft agreement contains, leaving the fate of enriched uranium, the Strait of Hormuz, frozen assets and regional proxies uncertain. Negotiators described only basic elements of a memorandum in principle, while details and enforcement mechanisms continue to be negotiated.
Diplomatic Claims Differ on Nuclear Terms
U.S. and Iranian statements diverged sharply on whether the draft pact addresses Iran’s existing stockpile of highly enriched uranium. A U.S. official said Tehran had agreed in principle to dispose of highly enriched material, but the mechanism for that disposal was still under discussion. By contrast, several senior Iranian officials said no binding decision on the nuclear stockpile had been made and that nuclear matters would be negotiated over the coming 30 to 60 days.
The dispute highlights a fundamental bargaining gap: Washington and its partners have long sought guarantees that Iran cannot rapidly reconstitute a weapons-capable program, while Tehran resists immediate disposition of material it regards as sovereign. U.S. negotiators reportedly signaled willingness to accept phased or interim arrangements, but the scope and timeline remain contested.
Disposition of Highly Enriched Uranium Unclear
Iran currently holds significant quantities of uranium enriched at various levels, including a notable amount enriched to around 60 percent, according to international monitoring data. How, when and where that material might be removed, diluted, exported or stored is a central unresolved question that affects verification and regional security assurances.
U.S. officials indicated the draft does not yet impose a moratorium on future enrichment, with that subject deferred to later rounds of talks. Previous negotiations sought multi-year constraints on enrichment; whether Tehran would accept similar limits under any interim arrangement has not been confirmed.
Passage Through the Strait of Hormuz Tied to Blockade
Control and use of the Strait of Hormuz emerged as a major bargaining chip in talks, after maritime attacks and a U.S. naval blockade dramatically altered shipping through the waterway. Iranian strikes and attempts to charge for passage effectively halted normal traffic earlier in the conflict, and reopening the strait is a key demand for global energy markets and Gulf states.
Iranian officials said the proposed deal would allow commercial vessels to transit the strait without payment for the time being in exchange for an end to the U.S. blockade. U.S. leaders signalled conditional openness to lifting the blockade, but stressed that the naval restrictions would remain until a verified agreement is concluded, underscoring the fragility of any interim understanding.
Frozen Assets and Economic Concessions on the Table
Tehran has long sought the release of funds frozen overseas under international sanctions, and officials said the draft agreement envisions unlocking a substantial sum. Iranian sources cited a figure of roughly $25 billion, though U.S. authorities denied committing to an immediate unfreezing and framed any asset releases as contingent on Iranian compliance with nuclear and other security commitments.
U.S. officials emphasized that they are prepared to begin a process to unfreeze assets only if Tehran follows through on negotiated steps, without specifying timing or amounts. The handling of these funds will be politically sensitive for both sides and could determine domestic support for any accord.
Proxy Fighting and Ceasefire Expectations
Stopping hostilities by Iran-backed militias, notably Hezbollah in Lebanon, is a central component of regional stabilisation hopes. Iranian sources said the proposal would halt fighting across multiple fronts, including Lebanon, while U.S. statements did not explicitly include terms on proxies in the initial framework.
Israel has voiced concern that an agreement focused narrowly on immediate ceasefires and maritime access could leave broader proxy networks intact. Israeli leaders sought reassurance that their security concerns would be addressed, signalling potential friction if the final deal does not include explicit measures to curb regional militia activities.
Missile Capabilities Not Addressed in Current Talks
Ballistic missile arsenals remain a major security concern for Israel and Gulf partners, yet U.S. officials said the current draft does not tackle Iran’s missile stockpile. Earlier demands from Washington and its allies had included limits or verifiable reductions on missile capabilities, but negotiators appear to have set that issue aside for now.
Analysts warn that excluding missiles from a foundational agreement could leave a persistent source of tension and future conflict. Israeli officials indicated that any package that fails to address missile threats would be insufficient from their perspective and might prompt independent action.
The draft memorandum represents a fragile start rather than a final settlement, with competing accounts underscoring how far negotiators must still travel to craft a durable accord. Both sides have signalled readiness to continue talks, but key verification measures, timelines and enforcement mechanisms remain to be hammered out before any formal agreement can be presented and implemented.