The U.S. is considering releasing $20 billion in frozen funds to Iran in exchange for the Islamic State’s enriched uranium, according to a new report by Axios.

The provision is part of a three-page plan to end the war, according to two anonymous U.S. officials and two additional sources who spoke with the outlet.

One official described the cash-for-uranium proposal as “one of many discussions” underway to end the war, according to reporters Barak Ravid and Marc Caputo.

However, shortly after the story published, President Donald Trump denied the report, writing on Truth Social,
“The U.S.A. will get all Nuclear ‘Dust,’ created by our great B2 Bombers – No money will exchange hands in any way, shape, or form.”

Trump indicated Thursday that he might travel to Islamabad, Pakistan, for the signing of the peace deal if negotiators reach an agreement in a second round of talks this weekend.

The first round came up empty, with Vice President J.D. Vance saying the deal-breaking issue remained uranium enrichment and Iran’s desire to build nuclear weapons.

“A top priority for the Trump administration is ensuring Iran can’t access the stockpile of nearly 2,000kg of enriched uranium buried in its underground nuclear facilities, in particular the 450kg enriched to 60% purity,” the report said.

It added, “The parties are negotiating over what will happen to the stockpile, and how much of Iran’s assets will be unfrozen. They are also discussing the terms on which Iran could use that money.”

If a deal is reached on the enriched uranium, Axios reported that it “would be shipped to a third country, not necessarily the U.S., and some of it would be down-blended in Iran under international monitoring.”

Down-blending is the process of mixing highly-enriched uranium with a lower-enriched version or natural, non-enriched uranium to render it no longer “weapons-grade.”

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