Washington is weighing a multibillion-dollar offer to Tehran that swaps cash for "nuclear dust"—what President Trump calls highly enriched uranium—even as he publicly insists "no money will exchange hands." Two US officials and two additional sources tell Axios that negotiators are working on a three-page draft that would see the US unlock about $20 billion in frozen Iranian assets in exchange for Iran surrendering its stockpile of enriched uranium—nearly 2,000 kilograms, including roughly 450 kilograms enriched to 60%. Talks, mediated by Pakistan with help from Egypt and Turkey, are expected to resume this weekend in Islamabad.
The evolving proposal would send some of Iran's highest-grade uranium to a third country and dilute the rest inside Iran under international monitoring. It also envisions a yearslong freeze on enrichment, with Washington pushing for 20 years and Tehran for five. The memo under discussion would keep Iran's nuclear facilities aboveground, leave underground sites idle, and address shipping in the Strait of Hormuz. Key issues, including ballistic missiles and proxy groups, may remain outside the framework, likely fueling opposition from Israel and GOP critics who already slammed the 2015 nuclear deal and are poised to object to another large unfreezing of Iranian funds.
The Washington Post notes that despite these apparent plans, the Trump administration has made it clear that strikes will resume if negotiations with Iran fall short. Time reports that some ex-diplomats are afraid the envoys handling talks with Iran, including Steve Witkoff and Trump son-in-law Jared Kushner, "lack the expertise and diplomatic experience needed to secure an agreement," which "risks prolonging the war and further destabilizing the global economy."
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