President Donald Trump on Friday rejected reports that the United States is weighing a deal to release billions in frozen Iranian assets in exchange for Tehran surrendering its enriched uranium stockpile, as diplomatic efforts continue to address escalating tensions.

The discussions are taking place during a temporary ceasefire following weeks of conflict involving Iran and U.S.-aligned forces, which disrupted global energy markets and prompted a U.S. naval blockade connected to the Strait of Hormuz. Officials involved in the negotiations have described progress as steady but acknowledged ongoing disagreements over the scope and duration of restrictions on Iran’s nuclear program.

One proposal raised in talks would allow Iran access to up to $20 billion in frozen funds for humanitarian purchases, including food and medicine, in exchange for relinquishing its enriched uranium. A U.S. official characterized the idea as one of several options discussed during negotiations rather than a finalized plan.

Trump dismissed the concept, stating that no financial exchange would be part of any agreement and emphasizing that the United States intends to secure control over Iran’s nuclear material without monetary concessions. He also referenced recent U.S. military operations involving B-2 bombers in outlining the administration’s stance.

U.S. officials estimate that Iran currently possesses approximately 2,000 kilograms of enriched uranium, including a portion refined to higher purity levels. Proposals under consideration include transferring some of the material to a third country and reducing the enrichment level of the remainder under international supervision.

Further negotiations are expected in the coming days, with a potential meeting in Islamabad as mediators from multiple countries continue efforts to finalize an agreement. A draft framework reportedly includes a proposed pause on Iran’s nuclear enrichment program, with the United States seeking a longer-term restriction and Iran advocating for a shorter duration.

Administration officials say Iran is pursuing broader economic relief, including sanctions removal and access to international markets, while U.S. negotiators continue to press for strict limits on nuclear development and regional activities.

The White House has described the talks as productive but cautioned against reliance on anonymous reporting. Trump has indicated that the two sides are nearing a potential agreement while warning that hostilities could resume if negotiations fail.