'In return for yellowcake': Iran ready to send enriched uranium abroad after war

Iran has said it is open to a new nuclear agreement that could see its stockpile of highly enriched uranium transferred abroad. The announcement came through Iran’s ambassador to the United Nations, Amir Saeid Iravani, in a written interview with Al-Monitor. It is the most detailed official statement since the end of a 12-day war involving strikes by the United States and Israel on Iran’s nuclear infrastructure.

“We would be prepared to transfer our stockpiles of 60% and 20% enriched uranium to another country and have them transferred out of Iranian territory in return for receiving yellowcake,” Iravani said. This marked a departure from Iran’s previous position, which strongly opposed such a transfer.

400kg of enriched uranium still missing

While Iran has voiced openness to exporting its stockpile, there are growing concerns over the location of a large quantity of enriched uranium. Roughly 400 kilograms of uranium enriched to 60% purity is reportedly missing. Former top UN nuclear official Olli Heinonen told Eye for Iran, “One should not relax because this material as such is enough for 10 nuclear weapons if it is enriched further to 90%.” The International Atomic Energy Agency (IAEA) has yet to confirm the location of this stockpile.

Iran backs regional nuclear cooperation

In addition to exporting uranium, Iran has also shown interest in a regional nuclear consortium. Iravani said Tehran is willing to collaborate with countries in the region that operate nuclear reactors, including on fuel supply and safety standards. “We are willing to collaborate with all countries in our region… if such a move is a complementary initiative and not a substitute for Iran’s domestic nuclear program,” Iravani said.

The United States reportedly pitched this idea before the war, with the potential involvement of Saudi Arabia, Oman, the UAE, Qatar, and the US. The plan includes supplying enriched uranium for civilian use in exchange for partial sanctions relief.

No clear location for proposed consortium

The question of where the enrichment would take place remains unresolved. Iran has insisted that enrichment must continue on its soil. Despite this, Iravani gave the strongest endorsement yet of the consortium plan, saying, “A consortium could very well be one of the forms such cooperation might take.”

Asked whether Iran would limit enrichment to such a consortium operating inside the country, he said, “In principle, we have no objection to that; however, we should consider it based on the details of any potential proposals we receive.”

NPT membership still stands, says Iran

Iran’s parliament recently passed a law restricting cooperation with the IAEA, raising concerns that it could be distancing itself from the Non-Proliferation Treaty (NPT). Iravani clarified that this was not the case. “It does not signify Iran’s withdrawal from the NPT,” he said, adding that any deal with the US must still respect Iran’s rights under the treaty.