IAEA-Iran Reduces Near-Nuclear Weapons Grade Uranium Stockpile

The International Atomic Energy Agency (IAEA) has confirmed that Iran has reduced its stockpile of uranium at near-weapons grade enrichment levels for the first time since 2021 in an unexpected development. As the WSJ notes, "Iran still has enough near-weapons grade material to fuel almost three nuclear weapons, underlining its status as a threshold nuclear-weapon state. However, by diluting some of its 60%-enriched uranium in recent weeks to lower-grade material, its stockpile fell for the first time since it started producing the 60% nuclear fuel in 2021."

• Iran's stockpiles of uranium hexaflouride (UF6) enriched up to 20% has increased to 145.1kg. Under IAEA definitions, 125kg of 20% enriched uranium is theoretically enough, if enriched further, to produce a nuclear bomb.
• The reduction in 60% enriched uranium will come as a relief to the US and its allies. The collapse of the Iran nuclear deak (JCPoA) under the Trump presidency saw Iran ramp up its enrichment programme, with Western sanctions doing little to arrest the speed at which Tehran was moving towards weapons-grade enrichment levels of 90%.
• The news comes amid heightened regional tensions, with Iranian proxies in the form of Hezbollah in Lebanon and the Houthis in Yemen engaging in skirmishes with Israel and attacks on US/UK linked shipping respectively. The upcoming Iranian legislative elections on 1 March will also be viewed as a potential flashpoint by the gov't, despite widespread public apathy towards the votes, which are seen as a foregone conclusion.