Quiet deal-making with big stakes.

US and Iran are reportedly working on a limited framework:
frozen funds unlocked in exchange for scaling back enriched uranium, with some shipped out and the rest diluted under international monitoring. Iran keeps civilian nuclear activity, but under tighter visibility.
At the same time, the Strait of Hormuz staying open matters just as much. That keeps global oil flowing and removes immediate pressure from markets.
If this holds, it is not a grand peace deal.
It is risk management.
Less escalation, more control, and a temporary easing of one of the world’s most fragile flashpoints.