Iran has pushed back on suggestions that a deal with the United States is close, saying Monday that while negotiators have reached conclusions on several points, no final agreement is around the corner.
Foreign Ministry spokesperson Esmaeil Baghaei said discussions on a possible memorandum with Washington had made progress, but stressed that “no deal is imminent.” The talks are focused mainly on ending the current conflict and easing tensions around the Strait of Hormuz, not on settling Iran’s nuclear file immediately.
The comment came after US President Donald Trump suggested the framework of an Iran deal had been “largely negotiated,” while also warning there was “no rush” and that any agreement would have to be “great and meaningful.”
A key sticking point remains Hormuz. Reports say the draft arrangement could involve Iran helping ensure safe commercial navigation through the vital waterway, while Washington would ease its naval blockade. Tehran, however, has objected to the idea of “tolls,” framing the matter instead as navigational service fees.
The nuclear issue is still the elephant in the room. According to reports, the current memorandum would leave that dispute for later talks, possibly within a 60-day window. Iran has rejected transferring its enriched uranium abroad, though a temporary pause in domestic enrichment has been discussed.
Markets reacted to the possibility of a breakthrough, with oil prices falling below $100 a barrel on hopes that shipping through Hormuz could normalize. Still, both sides are clearly trying to cool expectations. Progress, yes. A deal, not yet.
