Nuclear Material Swap at Center of Draft Agreement
The United States and Iran are negotiating a three page framework aimed at ending the conflict, with a proposal under discussion to release $20 billion in frozen Iranian funds in exchange for Iran surrendering its enriched uranium stockpile. Officials said the talks have made steady progress this week, though major gaps remain unresolved.
President Donald Trump said negotiators are expected to meet again this weekend, with discussions likely taking place in Islamabad. The mediation effort is being led by Pakistan with support from Egypt and Turkey. A broader diplomatic meeting involving Saudi Arabia is also expected on the sidelines of regional talks in Turkey.
Oil markets showed weakness during the talks.Wti Crude drops to $86 per barrel.
Funding Demands and Diplomatic Positions
Earlier discussions included a $6 billion humanitarian release, while Iranian negotiators reportedly demanded $27 billion. U.S. officials said Iran has shown some movement but not enough for a final deal.
Iran is also seeking the ability to sell oil at global market rates without sanctions and re-enter the international financial system, while U.S. officials insist the agreement must include full nuclear rollback measures. White House spokesperson Anna Kelly called the talks productive but declined to confirm details, citing sensitivity.
Political Pressure and Ceasefire Outlook
Senator Lindsey Graham said President Trump has communicated directly with Iranian officials during negotiations. Trump stated Iran agreed in principle to give up enriched uranium and pledged not to pursue nuclear weapons. He also warned that if no deal is reached, conflict could resume but said the ceasefire could be extended beyond April 21 if needed.
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