Ongoing US-Iran negotiations center on the disposition of Iran's estimated 440 kilograms of 60 percent enriched uranium, held primarily in underground facilities damaged by prior strikes. US officials have pressed for removal or verified destruction of the stockpile as part of any final agreement, while Iran has signaled openness to dilution under IAEA monitoring in exchange for sanctions relief and asset unfreezing, but Supreme Leader directives prohibit foreign transfer. Recent indirect talks via mediators in New York and Oman produced Iranian proposals for third-country handling or on-site downblending, which Washington rejected in favor of direct US custody and a clear timeline. A June 2026 memorandum extended a ceasefire for further talks that concluded without resolution, leaving the issue unresolved amid continued economic pressure and stalled diplomatic progress. Trader consensus reflects these barriers, with limited near-term pathways for physical US acquisition.