Iran has proposed suspending its uranium enrichment activities and reaching a commercial agreement with the United States in hopes of facilitating a nuclear deal.

PANews reported on February 17 that, according to the WSJ, diplomatic sources from Iran, the United States, and surrounding regions stated that a package of proposals put forward by Iranian diplomats included: a willingness to suspend uranium enrichment; transferring some of their uranium stockpiles overseas to be managed by third parties such as Russia; and engaging in commercial cooperation with the United States.

These proposals are closer to the core issue, but still fail to meet Trump's demand for a "clear and complete halt" to uranium enrichment. Trump has repeatedly stated his desire for an agreement that would ensure Iran does not acquire nuclear weapons; meanwhile, he has also amassed a large military force near Iran in case the agreement falls through.

Meanwhile, Iran's Islamic Revolutionary Guard Corps conducted exercises at the entrance to the Strait of Hormuz. The Strait of Hormuz is a strategically important waterway, through which approximately one-fifth of the world's oil shipments pass.

In a live-streamed speech on his personal website on Tuesday, Iran's Supreme Leader Ayatollah Ali Khamenei warned that "more dangerous than American warships are weapons that can send them to the bottom of the sea," as Geneva talks continued that day. He also said that the United States "could suffer such a heavy blow that it could never stand up again."