Iran is reportedly prepared to halt its uranium enrichment at 60% purity, which is just below weapons-grade, in what media is viewing as a potential breakthrough in indirect nuclear talks with the United States, according to a Reuters exclusive.
In exchange, Tehran is seeking formal U.S. recognition of its right to enrich uranium for civilian purposes under the Non-Proliferation Treaty (NPT) and the release of billions in Iranian assets currently frozen abroad.
This vague signalling comes as diplomatic momentum appears to be shifting.
In a separate development, U.S. President Donald Trump confirmed in an interview with Fox News that he advised Israeli Prime Minister Benjamin Netanyahu to “back off” from launching unilateral military strikes on Iran, due to ongoing nuclear negotiations. Earlier this week, fears of a potential Israeli strike on Iran intensified.
Sources suggest any final agreement remains contingent on verification by the International Atomic Energy Agency (IAEA), whose director, Rafael Grossi, said the “jury is still out” on whether Iran is ready for “meaningful” transparency measures. U.S. officials remain cautious, wary of committing to sanctions relief or financial transfers before tangible compliance is demonstrated. “We don’t know whether there’s going to be an agreement or not,” Grossi said.
Meanwhile, geopolitical anxiety spread further into commodity markets. Oil prices surged over 4% Tuesday, as investors priced in the possibility of an Israeli preemptive strike, which analysts fear could ignite a broader regional conflict and disrupt energy flows.
For Iran, this is a calculated play in which it is seeking to leverage its enrichment as geopolitical currency. For Washington, it’s a test of how far it’s willing to go without congressional buy-in.
Five rounds of talks have so far been held between Iran and the U.S.
By Charles Kennedy for Oilprice.com
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