Iran has tentatively agreed to relinquish its stockpile of highly enriched uranium as a key condition of an emerging nuclear agreement with the United States. The New York Times reported this Saturday, citing two U.S. officials. Tehran's Commitment Earlier that day, President Donald Trump said the U.S. was nearing a deal to end the hostilities and reopen the Strait of Hormuz, a key route for global oil shipments. The news comes alongside a U.S. six-week naval blockade that has redirected over 100 commercial vessels from Iranian ports, ship-tracking data show, costing Tehran an estimated $435 million daily in economic damage. Stockpile At The Center Of Talks The International Atomic Energy Agency estimates Iran holds about 970 pounds of uranium enriched to 60%, far above the 20% level classified as highly enriched uranium and closer to the 90% plus grade needed for a nuclear weapon. U.S. negotiators warned Tehran that if it did not agree to upfront commitments on its nuclear stockpile, military strikes could resume. Options reportedly included bunker-busting bombs targeting the Isfahan nuclear site, which had previously been struck with U.S. Tomahawk missiles last June. According to the report, Iran stands to recover billions in frozen overseas assets, but only after reaching a broader nuclear agreement, giving Tehran a financial reason to stay engaged in talks. The report also said longer-term talks will focus on Iran's enrichment program, where major differences remain. Washington has pushed for a 20-year moratorium, while Tehran has proposed a much shorter timeline. Iran has made no public statement on the reported agreement. The White House did not immediately respond to Benzinga's request for comment. Republican Skepticism Mounts Sen. Ted Cruz (R-TX) pushed back sharply on Saturday, warning on X that a deal leaving Iran with billions in funds, uranium enrichment capability, and influence over the Strait of Hormuz would be "a disastrous mistake." Cruz acknowledged the early reports may be incomplete but flagged that praise for the deal from former Obama-era Iran negotiator Rob Malley was "not encouraging." I am deeply concerned about what we are hearing about an Iran "deal," being pushed by some voices in the administration.President Trump's decision to strike Iran was the most consequential decision of his second term. He was right to do so, and we achieved extraordinary...— Ted Cruz (@tedcruz) May 24, 2026 The new agreement represents a significant shift, as Iran's supreme leader had previously ordered that the country's enriched uranium stockpile must remain inside Iran, directly opposing Washington's central demand. Photo courtesy: Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Read Also: Iran's Strait Of Hormuz Toll System Sparks Sanctions Push As Trump Ally Tom Cotton Reportedly Urges Scott Bessent To Act: 'Every Dollar Collected...'