The US government again asserted today that it is getting closer to concluding a “robust” agreement with Iran.
The day before, however, US President Donald Trump appeared to try to temper expectations that a deal was imminent in order to bring an end to the Middle East war in the near future.
“We have something, which I think is pretty solid, on the table, in terms of opening the Senate” of Hormuz, and to start “negotiations” on the Islamic Republic’s nuclear energy program, said Marco Rubio, the U.S. secretary of state, who is on an official visit to New Delhi.
“We expected to have news last night, maybe today (Monday), but I won’t prejudge anything,” he added.
The war, which began Feb 28 with US-Israeli bombing of Iran, has spread across much of the Middle East. A ceasefire has been in place since 8 April between the US and Iranian armed forces, but the global economy remains shaken, largely because of the near-total blockade of the strategic Strait of Hormuz, by decision of the Iranian leadership, for the past nearly three months.
While the US says it is working to close a deal, President Trump appeared to temper expectations yesterday despite signs of progress. “I asked my representatives not to rush to a deal because we have time on our side,” the Republican said via Truth Social, adding that the US blockade on Iranian ports would remain in place “until a deal is concluded, certified and signed.”
The presidency believes that “approval of the deal by the Iranian agreement may take several days,” according to news website Axios. “As the president said, he is not in a hurry, he will not make a bad deal – the president will not sign a bad deal,” Marco Rubio reiterated today.
According to US media, the deal being negotiated between Tehran and Washington would allow the passage of commercial ships through the Strait of Hormuz. The seaway was through which a fifth of the hydrocarbons exported from the Middle East to the rest of the world passed before the war.
Oil prices retreat
As markets appear to be betting on the deal, oil prices were retreating in Asia this morning. The price per barrel of oil, both the international benchmark North Sea Brent variety and the US benchmark WTI variety, were down 5% or more after 07:00 (GMT).
According to CBS News, which cited sources familiar with the content of the talks, the latest proposal includes the release of some Iranian resources frozen in foreign banks. “Despite the talks taking place today (ed. yesterday Sunday), the US continues to block some dimensions of the deal, particularly the issue of releasing Iran’s frozen resources, and several issues remain unresolved as of this moment,” Iran’s Tasnim news agency reported yesterday.
For its part, the FARS news agency said sanctions on oil, gas and other petrochemicals will also be lifted while negotiations continue so that the Islamic Republic will be able to carry out its exports, capital for its economy, as normal.
The agreement under negotiation does not settle the issue of Iran’s nuclear energy programme. “The negotiations on the nuclear issue are very technical issues. We could not settle the nuclear issue in 72 hours,” Marco Rubio told the New York Times.
Once the opening of the Strait of Hormuz is secured, “we will (…) start negotiating very seriously on enrichment, on uranium that is highly enriched, and on their commitment.Iran’s commitment to never acquire nuclear weapons,” he continued, referring to a “60-day deadline” to reach an agreement on this.
To eliminate the nuclear threat
Israeli Prime Minister Benjamin Netanyahu said yesterday that he and Mr. Trump agreed during their telephone conference that whatever deal is struck with Iran should “completely eliminate the nuclear threat,” he said in a statement.
Pakistani Prime Minister Sabaz Sharif, a mediator in the negotiations, yesterday Sunday fuelled the scenario of a resolution of the conflict in the short term, saying he “hopes” to host a new meeting of delegations from the two countries “very soon”. Washington and Tehran’s first and only – so far – inconclusive round of direct negotiations was held in Islamabad on April 11.
“It has the right to defend itself”
Israeli Prime Minister Netanyahu asserted yesterday that US President Trump reaffirmed, during their telephone conversation, Israel’s “right” to defend itself on all fronts, especially in Lebanon.
“Israel always has the right to defend itself. Every country in the world has that right,” echoed US Secretary of State Rubio today.
