President Donald Trump on Friday pushed back on a report that the United States and Iran may include a proposal that would see Washington release up to $20 billion in frozen Iranian funds in exchange for Tehran surrendering its enriched uranium stockpile as part of an agreement to end their ongoing conflict.
The negotiations come amid a fragile ceasefire following weeks of conflict that disrupted global energy markets and prompted a U.S. military blockade of Iranian ports and shipping routes tied to the Strait of Hormuz.
Officials said the talks have shown "steady progress" this week, though key differences remain, particularly over the scope and duration of limits on Iran's nuclear program.
Trump said Thursday that negotiators are expected to meet again this weekend, possibly in Islamabad, as mediators from Pakistan, Egypt, and Turkey work to finalize a deal.
One U.S. official told Axios on Friday that "one of many discussions" included a possible cash-for-uranium deal, saying the U.S. was prepared to unfreeze billions of dollars for Iran to purchase humanitarian supplies, medicine, and food if Iran agreed to relinquish its enriched uranium stockpile.
However, Trump later posted on Truth Social that "The U.S.A. will get all Nuclear 'Dust,' created by our great B2 Bombers" and "no money will change hands in any way, shape, or form" as part of a deal with Iran.
At the center of the discussions is Iran's nuclear program, which U.S. officials say includes roughly 2,000 kilograms of enriched uranium, including about 450 kilograms enriched to 60% purity.
One proposal under consideration would involve transferring some of that material to a third country while downblending the rest under international supervision.
The talks also reportedly include a draft three-page memorandum of understanding proposing a "voluntary" moratorium on Iran’s nuclear enrichment, with the United States pushing for a 20-year pause and Iran countering with five years.
"Iran has moved. But not far enough. What it takes to make them move forward, we will see," one U.S. official said.
Another official added: "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."
Trump told reporters on Thursday that Iran agreed to commit to "a very, very powerful statement ... that they will not have nuclear weapons" and to give the United States "the nuclear dust," adding, "We are very close to making a deal. If no deal, fire resumes."
White House spokesperson Anna Kelly called the talks "productive" but cautioned: "Anonymous sources who claim to know about sensitive diplomatic discussions have no idea what they are talking about."
Theodore Bunker ✉
Theodore Bunker, a Newsmax writer, has more than a decade covering news, media, and politics.
© 2026 Newsmax. All rights reserved.