Five entities spanning Kazakhstan's uranium mines, Russia's enrichment cascades, and next-generation reactor designs determine nuclear energy security, commodity prices, and proliferation risk.

The Islamic Republic of Iran controls the northern shore of the Strait of Hormuz and holds the world's second-largest natural gas reserves and third-largest proven oil reserves, placing it at the center of Middle East conflict, global energy markets, and US-led sanctions regimes.

The interlocking US, UN, and EU sanctions regimes imposed on Iran since 1979 are the primary mechanism constraining Iran's oil revenues, nuclear program, and weapons procurement, shaping Middle East geopolitics and global energy markets.

The spread of nuclear weapons beyond the five original powers, now covering nine states and 12,187 warheads globally, and the defining fault line of post-Cold War security diplomacy.

Nuclear reactors up to 300 MWe per module, factory-built for speed; the United States, United Kingdom, and China are racing to commercial operation as AI data centres create demand.

DOE task orders to Centrus, General Matter and Orano, plus Urenco's New Mexico expansion, aim to replace Russian LEU before the 2028 waiver cliff

Switzerland talks produced a 'roadmap', and opposite public accounts of what Iran committed to on nuclear access

Grossi says the MoU guarantees access, Tehran says inspections follow only a final deal; the 60-day ceasefire window is burning

The agency chief plays down the clock on inspections as Washington and Tehran send conflicting signals about what the June 17 deal requires

Eight months on, the IAEA still cannot verify 440 kg of 60% HEU stored at Isfahan; Tehran says it has not resumed enrichment

With safeguards 'legally untenable' since February and inspectors locked out, the IAEA Board declares Iran non-compliant on 12 June, the agency can no longer verify the stockpile