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AMMAN — The US and Iran are negotiating over a three-page plan to end the war, with one element under discussion being that the US would release $20 billion in frozen Iranian funds in return for Iran giving up its stockpile of enriched uranium, Axios reported, quoting two US officials as saying.
There has been steady progress in the talks this week, though significant gaps remain.
A deal on these terms would bring the war to a close, while potentially generating backlash from Iran hawks, according to Axios.
President Trump said Thursday that US and Iranian negotiators would likely meet this weekend for a second round of talks to try to seal the deal.
The talks are expected to take place in Islamabad, likely on Sunday, the American news website said, quoting unnamed source familiar with the mediation efforts.
According to two sources, the US was ready in an earlier stage of the negotiations to release $6 billion for Iran to purchase food, medicine and other humanitarian supplies. The Iranians demanded $27 billion.
The latest number discussed by the US and Iran is $20 billion, the sources said.
One US official said that was a US proposal. The other US official described the cash-for-uranium concept as "one of many discussions."
Under a compromise proposal now under discussion, some of the highly enriched uranium would be shipped to a third country, not necessarily the US, and some of it would be down-blended in Iran under international monitoring, Axios said.
The three-page memorandum of understanding [MOU)] the two sides are negotiating over also includes a "voluntary" moratorium on nuclear enrichment by Iran.
The US demanded in the last round of talks that Iran agree to a 20-year moratorium. Iran countered with five years. The mediators are still trying to close the gap, the news outlet said.
"Iran clearly wants the $20 billion, and a lot more. They clearly want to sell oil at free-market rates without sanctions. They want to participate in the global financial system. But they also want to have this nuclear weapons program. They want to fund terrorists like Hamas. And they don't want to give that up enough to get the things we're offering," the official added.
White House spokesperson Anna Kelly said talks had been "productive" but the US would "not negotiate through the press," adding: "Anonymous sources who claim to know about sensitive diplomatic discussions have no idea what they are talking about."
