Disputed U.S.-Iran Framework Would Reopen Strait of Hormuz, Unfreeze Up to $9 Billion

A disputed U.S.-Iran framework proposal would reopen the Strait of Hormuz and release up to $9 billion in Iranian assets, but Iran's Supreme National Security Council secretary said the countries are not negotiating.

Qatar and Pakistan proposed a plan to restart substantive negotiations between Washington and Tehran. The proposal envisions an initial agreement on enrichment. Under the terms discussed, the United States would permit Iran to enrich uranium domestically to 3.67%, a level Tehran has accepted.

Washington also wants Iran to lower the enrichment level of its existing stockpile, which is currently at 60%. Both sides are considering assistance from a third country to handle the highly enriched uranium.

The proposal calls for discussions about returning International Atomic Energy Agency (IAEA) inspectors to Iran. The inspectors' specific mandate is not defined. Under the framework, the strait would open and maritime blockades would end as soon as an agreement is reached.