US and Iranian negotiators reached a tentative agreement in early October 2026 to extend the ceasefire by 60 days while resuming talks on Tehran’s nuclear program, with the disposition of Iran’s roughly 440 kilograms of 60% enriched uranium as a central issue. US officials have stated that any final deal requires the stockpile to be destroyed or removed under IAEA supervision, though Iran has not committed to direct transfer and has floated third-party options such as Russia or China. The material is believed largely buried under sites damaged in prior US-Israeli strikes, complicating access and verification. Negotiations remain stalled on enrichment limits and inspector access, with no confirmed US possession of the uranium. Trader pricing reflects these diplomatic hurdles and the absence of a breakthrough mechanism within near-term resolution windows.