Axios:

Barak Ravid

Iran is open to basing a nuclear deal with the U.S. around the idea of a regional uranium enrichment consortium, so long as it is located within Iran, a senior Iranian official tells Axios.

Why it matters: The regional enrichment consortium is a key element in the proposal White House envoy Steve Witkoff gave Iran on Saturday. I

t's an attempt to reconcile President Trump's position that Iran can't be allowed to enrich uranium and Tehran's insistence that enrichment on its soil must continue.

The intrigue: "If the consortium operates within the territory of Iran, it may warrant consideration. However, should it be based outside the borders of the country, it is certainly doomed to fail," the senior Iranian official told Axios.

That response suggests Tehran may not outright reject Witkoff's offer, but instead seek to negotiate on the fine print.

Axios first reported the details of Witkoff's proposal on Monday.

Zoom in: The proposal doesn't clearly define where the consortium would be located.

In theory, the consortium would include the U.S., Iran and countries like Saudi Arabia, the UAE, Qatar and even Turkey.

It would supply nuclear fuel to countries who want to develop civilian nuclear programs and be monitored by International Atomic Energy Agency (IAEA) inspectors.

Go to link