On May 11 (US time), according to Bloomberg and Wall Street Journal, Iran proposed transferring part of its high-enriched uranium stockpile to a third country in the latest response to the US plan to end the 10-week conflict.
Meanwhile, according to the Wall Street Journal, the new US proposal includes Iran allowing ships to pass through the Strait of Hormuz, in return, Washington will end the blockade of Iranian ports next month.
In the option discussed, Iran will dilute a part of high-enriched uranium and transfer the rest to a third country. However, Tehran requests assurance that the transferred uranium will be returned if negotiations fail. Iran also rejects the dismantling of its nuclear facilities.
Iran's response is said to be several pages long, in which the negotiators propose ending the fighting and gradually reopening the Strait of Hormuz. However, the two sides still have major differences on Tehran's nuclear program.
Surprisingly, Iran's Tasnim news agency later said that information about proposals related to nuclear materials was "incorrect", but did not elaborate further. Tasnim's statement emphasized Iran's desire to end the conflict immediately, lift US sanctions on oil sales, end US blockades in the Gulf of Oman and finally let Iran manage the Strait of Hormuz.
The Strait of Hormuz is a strategic shipping route, where about 1/5 of the world's oil and natural gas (LNG) passes through before the conflict breaks out. Fighting has caused energy prices to rise sharply and disrupted oil and gas flows in the region.
US President Donald Trump recently warned Washington that it could choose "a different direction" if the parties do not reach an agreement. He also criticized Iran for "wasting time" with the US and other countries.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu declared that the conflict is not over. He said more action is needed to dismantle Iran's nuclear capabilities and eliminate Tehran's high-enriched uranium stockpile.
Although the ceasefire has been in effect since April 8, the situation in the region remains tense. A drone attack on May 10 caused a cargo ship off the coast of Qatar to catch fire in a short time. The United Arab Emirates and Kuwait also said they intercepted hostile drones.
US Energy Secretary Chris Wright on May 10 signaled that Washington may prioritize reopening the Strait of Hormuz rather than asking Iran to completely end its nuclear program in a temporary agreement. When asked about the possibility of reaching an agreement that has not fully addressed the nuclear issue, he said it is "certainly possible".
