Trump rejects Iran uranium transfer to Russia or China as U.S.-Iran talks weigh on oil
Amid efforts to reach at least a short-term agreement to end the three-month-old war, President Donald Trump says he opposes any arrangement that would send Iran's highly enriched uranium to Russia or China. He also says the Strait of Hormuz must remain open to all shipping and rules out sanctions relief or cash for Tehran as part of a deal.
Highlights
- Trump rejects any agreement allowing Iran to transfer highly enriched uranium to Russia or China, insisting on its destruction or U.S.-approved disposal.
- Trump affirms no sanctions relief or release of Iranian funds unless Iran meets U.S. conditions, maintaining strict financial controls amid negotiations.
- Oil prices decline after U.S. officials including Marco Rubio emphasize prioritizing diplomacy and Trump pledges the Strait of Hormuz will remain open and uncontrolled by Iran.
Negotiating lines on uranium and sanctions
As reported by CNBC, Trump says at a White House Cabinet meeting that he would not be comfortable with Iran transferring its stock of highly enriched uranium to Russia or China under any agreement with the U.S.He had previously written in a Truth Social post that Iran's enriched uranium will be destroyed, either in the U.S., inside Iran itself, or at another acceptable location. Russia has previously said it would accept the material to help facilitate a peace deal, while reports have also speculated that China could take it in.
Trump also says the U.S. is not discussing any easing of sanctions on Iran and will not provide money as part of an agreement. He says Washington will keep control of Iranian funds it currently holds and will only release that money if Iran behaves properly and does what he considers right.
Oil market response and Hormuz access
His comments come as Washington and Tehran continue to signal they are working toward at least a temporary arrangement to end the conflict in the Middle East. Oil prices fall after Secretary of State Marco Rubio says at the same meeting that the U.S. wants to give diplomacy every chance to succeed.Trump also rejects any short-term deal that would leave Iran in control of the Strait of Hormuz, the vital oil-shipping route where tanker traffic has been squeezed during the war. He says the waterway is going to be open to everybody, with the U.S. watching over it and no single country controlling passage.
Our earlier report examined how markets reacted to signals of a possible temporary agreement involving Iran, with WTI crude dropping as investors priced in a reduced geopolitical risk premium. It also highlighted the Strait of Hormuz as the key chokepoint for oil, inflation and global trade, while noting that uncertainty remained around whether any deal would be finalized.
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