Iran has poured cold water on hopes of an imminent deal with the US, despite some progress in talks. Foreign ministry spokesman Esmail Baqai said a conclusion has been reached on a large portion of the issues under discussion, but a deal is not yet in sight.
US Secretary of State Marco Rubio had suggested an agreement could be reached on Monday, but Baqai’s remarks in Tehran dampened those expectations. The proposed memorandum of understanding reportedly includes a 60-day ceasefire extension, reopening the Strait of Hormuz, and a plan for further negotiations over Iran’s nuclear program.
Iran US Deal
The talks have been complicated by communication difficulties with Iran’s Supreme Leader, who is reportedly holed up in an undisclosed location. US intelligence believes this has slowed the pace of negotiations. The mooted deal is not a final settlement, but rather a stepping stone, leaving thorny issues like sanctions relief and Iran’s nuclear ambitions to be negotiated later.
Oil prices fell sharply and Asian stock markets rose on Monday on hopes of an agreement. However, the reported deal has split President Trump’s Republicans, with some criticizing it as too lenient on Iran. Senator Ted Cruz said it would be “a disastrous mistake”, while Senator Lindsey Graham questioned why the war started in the first place if Iran is to be left as a dominant force in the region.
Reactions and Implications
Trump responded to criticism by dismissing his opponents as “losers” and saying the deal with Iran will either be “great and meaningful” or there will be no deal. Even if a deal is reached, its effects are unlikely to be seen immediately, with the shipping industry expected to remain cautious and hesitant to make major operational changes.
The US and Israel launched strikes on Iran in February, sparking conflict across the Middle East. A deal between Iran and the US could have significant implications for global oil prices and regional stability. The situation remains complex, with many variables at play, and a lasting resolution is still uncertain.
