US demands Iran scale back uranium enrichment, potentially reducing future uranium supply from Iran and tightening the market.
US Vice President JD Vance said the US government remains open to reaching an agreement with Iran, but wants Iran to take concrete action to reduce its uranium enrichment capacity before the two sides reach a diplomatic deal to end the seven-month war. In an exclusive interview with Reuters on Monday, October 5, Vance said the US will not accept mere assurances from Iran that it will reduce uranium enrichment in the future, but wants to see concrete action to scale down the program. He said that if Iran does not want to develop nuclear weapons, there is no reason for it to have uranium fuel enriched to 60 percent, and that reducing this capacity would be evidence of Iran's commitment not to develop nuclear weapons. In recent weeks, Iran and the US have exchanged proposals to find a way to end the conflict and reopen the Strait of Hormuz, a key route for global energy shipments. However, US President Donald Trump rejected Iran's latest proposal and warned that military operations could intensify after the US midterm elections in November. Meanwhile, Vance said the US government is still unsure who holds final decision-making authority in Iran, even though the US has held talks with Iranian President Masoud Pezeshkian and Iranian Foreign Minister Abbas Araghchi.
US demands Iran scale back uranium enrichment, potentially reducing future uranium supply from Iran and tightening the market.