Live Updates: Trump holds key White House meeting on Iran deal to reopen Strait of Hormuz, destroy uranium
Live Updates: Trump Finalizes Strategy for Iran Ceasefire, Focus on Hormuz and Uranium Destruction
Live Updates: Trump holds key White House meeting on Iran deal to reopen Strait of Hormuz, destroy uranium – On Friday, President Donald Trump convened a pivotal two-hour session in the White House Situation Room, aiming to finalize a potential agreement with Iran. However, as the meeting concluded, it remains uncertain whether the deal to reopen the Strait of Hormuz and dismantle Iran’s enriched uranium stockpile will proceed. The focus of the discussions centers on ensuring the U.S. secures its redlines, particularly regarding Iran’s nuclear program.
White House Stance on Iran Deal
A White House official, speaking to CBS News, emphasized that Trump would only endorse a deal favorable to American interests. “The president is committed to a pact that aligns with his priorities, including the removal of Iran’s nuclear threat,” the spokesperson said. This statement underscores the administration’s insistence that Iran cannot be allowed to acquire nuclear weapons, a key condition for any agreement.
During the meeting, Trump reiterated his demand that the deal include measures to “unearth” Iran’s highly enriched uranium and ensure its destruction. The president’s remarks highlighted the urgency of addressing the nuclear issue, even as the broader conflict in the region persists. “We must finish the job if the talks don’t produce a result we can accept,” he stated earlier in the week, signaling a firm resolve to push forward with the plan.
Global Economic Concerns Over Hormuz Closure
Amid the political developments, leaders from the World Bank, International Monetary Fund, and International Energy Agency issued a joint warning about the economic fallout from the prolonged closure of the Strait of Hormuz. The waterway, which accounts for approximately 20% of global oil transit, has remained disrupted for three months, exacerbating fuel shortages and inflating prices.
“If shipping flows do not return to normal, the global economy will face growing risks to fuel security, market stability, and broader economic resilience,” the organizations stated. This alert comes as summer demand for oil is anticipated to rise, putting further pressure on energy markets.
The agencies also noted that “global oil inventories are being depleted at an unprecedented rate,” which could lead to supply crises if the situation remains unresolved. While the global economy has shown resilience, some nations have already felt the strain, with fuel costs climbing and agricultural inputs like fertilizer seeing sharp price increases ahead of planting season.
U.S. Seizures of Iranian Cryptocurrency Assets
In a separate development, Treasury Secretary Scott Bessent revealed that the U.S. has frozen nearly $1 billion in Iranian cryptocurrency holdings. Speaking at the Reagan National Economic Forum, Bessent described the action as a decisive move to target Iran’s financial resources.
“We have seized about $1 billion of their crypto,” Bessent explained. “It’s like grabbing the wallets outright—some might be typing in real-time, unaware their assets have been taken.”
The official claimed these funds were “stolen from the Iranian people,” a point that aligns with the administration’s broader strategy to weaken Iran’s economic position. The move not only pressures Tehran financially but also signals a willingness to use digital assets as a tool in geopolitical negotiations.
Kazakhstan Offers to Store Iran’s Uranium Stockpile
Adding a new dimension to the talks, Kazakhstan has proposed to host Iran’s uranium stockpile if a deal is reached. This offer was disclosed by U.N. nuclear watchdog chief Rafael Grossi in an interview with the Financial Times. Grossi noted that the country’s leader, President Kassym-Jomart Tokayev, had expressed openness to the idea during a recent meeting in Astana.
According to the Financial Times, the Kazakh leader’s willingness to accommodate the stockpile could help ease tensions over the enriched uranium, which is critical to the nuclear dispute. The estimated 440 kilograms of uranium processed to 60% purity remains a focal point of negotiations, with both sides vying to secure terms that satisfy their respective goals.
Iran’s Response to the Ceasefire Proposal
Despite the U.S. push for a deal, Iran’s Foreign Ministry dismissed the notion of nuclear negotiations as part of the ceasefire agreement. Spokesman Esmaeil Baqaei stated, “At this stage, we are focused on ending the war, and there are no negotiations on the nuclear issue.”
“We have not engaged in any discussions regarding the nuclear program,” Baqaei said, as reported by state television. This response reflects Iran’s current emphasis on military objectives, with the nuclear issue viewed as a separate and secondary concern.
The ministry’s stance highlights the divide between the two nations. While the U.S. seeks to address the nuclear threat through a broader ceasefire, Iran insists on maintaining its strategic autonomy. The situation in the Strait of Hormuz, however, has become a critical bargaining chip, with the U.S. leveraging it to extract concessions from Tehran.
Market Reactions to the Developments
As the geopolitical tensions escalated, financial markets in the U.S. responded with cautious optimism. On Friday afternoon, stocks saw a positive trend, building on the gains of the previous day. The S&P 500 rose by 0.2%, marking its sixth consecutive upward movement. If this continues, the index could extend its winning streak to nine weeks, a significant achievement since 2023.
The Dow Jones Industrial Average also climbed, gaining 382 points or 0.8% by 12:01 p.m. Eastern Time. These market reactions suggest investors are watching the outcome of the Iran negotiations closely, as any resolution could stabilize oil prices and reduce economic uncertainty. However, the prolonged disruption of Hormuz has already triggered volatility in energy markets, with traders bracing for further shifts.
Broader Implications of the Deal
The potential agreement could reshape the balance of power in the Middle East, with the U.S. securing critical control over Iran’s nuclear capabilities while easing the blockade on Iranian ports. This move might also open the door for renewed diplomatic engagement, though the path to a final agreement remains fraught with challenges.
For now, the focus remains on Trump’s final decision. The president’s commitment to “good” deals and his insistence on destroying Iran’s uranium stockpile have set the tone for the negotiations. As the situation unfolds, the world watches for signs that the stalemate in the Strait of Hormuz may finally be broken, with far-reaching consequences for global energy security and international relations.