US weighs $20bn asset release as Iran talks focus on uranium stockpile deal

The United States and Iran are intensifying negotiations over a proposed framework to end hostilities, with discussions now centered on the fate of Iran’s enriched uranium stockpile and the potential release of billions of dollars in frozen assets, according to a report by Axios on Friday.

The report said Washington is considering unlocking up to $20 billion in Iranian funds held abroad if Tehran agrees to relinquish control of its nuclear material, including nearly 2,000 kilogrammes of enriched uranium stored in underground facilities. Of particular concern to U.S. negotiators is approximately 450 kilogrammes enriched to 60 percent purity, a level considered close to weapons-grade.

Talks are being conducted under a proposed three-page memorandum of understanding (MoU) designed to end the conflict that began on February 28, with officials reporting steady progress during the past week despite unresolved differences on key technical issues.

A central dispute remains over how Iran’s uranium reserves should be handled. The United States has pushed for the complete transfer of the stockpile out of Iran, while Tehran has proposed diluting the material domestically. Diplomats are now examining a hybrid solution that would involve sending part of the highly enriched uranium to a third country while diluting the remainder inside Iran under international monitoring.

The draft framework also addresses a temporary halt to uranium enrichment activities. U.S. negotiators have proposed a 20-year freeze, while Iran has countered with a five-year suspension, leaving the duration of restrictions as one of the most significant gaps in the negotiations.

President Donald Trump said on Thursday that Washington was “very close” to reaching an agreement, as a two-week ceasefire between the two countries — brokered with mediation support from Pakistan — approaches its scheduled expiration on April 22.

According to the report, the next round of direct talks is expected to take place on Sunday in Islamabad, following an earlier round of extended negotiations that failed to secure a permanent settlement last weekend.

Iran is seeking financial relief as part of any final arrangement, while U.S. officials remain focused on preventing Tehran from regaining operational access to sensitive nuclear materials. The proposed agreement would allow Iran to continue operating nuclear research reactors for the production of medical isotopes, provided such facilities remain above ground and previously used underground sites stay inactive.

Additional provisions under discussion reportedly cover security arrangements related to the Strait of Hormuz, though negotiators have yet to reach consensus on those elements.

Responding to the report, the White House cautioned against relying on anonymous sources, stating that only official statements from President Trump or the administration should be treated as definitive. Spokesperson Anna Kelly said productive discussions with Iran were ongoing but emphasized that negotiations would not be conducted through the media.

Separately, President Trump asserted that the United States would secure control of Iran’s enriched uranium stockpile without providing financial compensation, referencing the destruction of Iranian nuclear infrastructure by U.S. B-2 bombers during strikes ordered in June 2025.