US to unblock up to $9 bln of Iranian assets if deal is reached

A preliminary agreement to reduce Iran's uranium enrichment is reportedly under consideration following a new mediation initiative by Qatar and Pakistan, according to Al Arabiya.

According to sources the proposal would allow the U.S. to permit Iran to enrich uranium on its soil up to 3.67%, with Tehran agreeing to this limit.

According to the sources, a joint initiative by Qatar and Pakistan has made it possible to resume a "serious negotiating process" between Washington and Tehran. If an agreement is reached, "the United States will unfreeze Iranian assets totaling between $6 billion and $9 billion," and the Strait of Hormuz would be reopened with the lifting of the maritime blockade.

Arrangements are said to be discussed for the return of International Atomic Energy Agency inspectors to Iran, though the specific scope of their mandate has not been finalized.