Ongoing US-Iran nuclear negotiations continue to center on Iran's enriched uranium stockpile as a core point of contention, with Washington pressing for full transfer or removal to a third country while Tehran has proposed monitored down-blending or retention under strict IAEA verification instead. Recent indirect talks, including rounds in Islamabad and Geneva, saw both sides postpone direct discussion of the stockpile to focus on sanctions relief and regional issues such as the Strait of Hormuz. Iranian officials have signaled willingness to limit future enrichment but have rejected long-term moratoriums or zero-stockpile demands, amid IAEA reports confirming continued accumulation of near-weapons-grade material. These dynamics, combined with internal Iranian divisions and external pressures from Israel and congressional voices, shape trader assessments of timelines for any public agreement on surrender.