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BREAKING: Iran has rejected the US demands to surrender its enriched uranium stockpiles under any circumstances, even if signing the MOU and entering the 60-day negotiation window, with no nuclear discussions being held in that or after that window and no change expected to Iran's nuclear posture, per NYT. This comes as a faction within Iran's leadership holding Supreme National Security Council representation is now actively working to block any deal with the US regardless of terms due to the excessive demands, per WSJ.

New details emerging on the difficulties in U.S.–Iran negotiations: As of now, Iran is only willing to commit to not developing nuclear weapons, while the U.S. is pushing for concrete steps to reduce enriched uranium—either by selling it, transferring it abroad, or diluting it. A major sticking point is the Strait of Hormuz: Iran wants it under its management, while the U.S. insists on full freedom of navigation. There’s also no agreement on financial relief. Qatar has stepped in with a proposal to provide Iran a $12B humanitarian loan. Notably, Lebanon is now part of the broader framework under discussion.

In relation to Iran’s frozen/blocked foreign assets, Iranian FM SPOX Baqaei promises that “yes, we will certainly spend a portion of it on missiles and drones.” Well, that was quite clear… watch DC now caveat it…