On Thursday, US President Donald Trump stated that the United States was nearing an agreement on a nuclear deal with Iran, adding that Tehran had "sort of" consented to the terms.
"We're in very serious negotiations with Iran for long-term peace," Trump said on a tour of the Gulf, according to a report by AFP.
"We're getting close to maybe doing a deal without having to do this... there (are) two steps to doing this, there is a very, very nice step and there is the violent step, but I don't want to do it the second way," he said.
Reuters reported quoting an Iranian official with the negotiations said there were still gaps to bridge in the talks with the United States.
Oil prices fell by about ₹171 ($2) on Thursday on expectations of a U.S.-Iran nuclear deal that could result in sanctions easing.
Fresh negotiations between Iranian and US representatives aimed at resolving disagreements over Tehran’s nuclear programme concluded in Oman on Sunday, with officials confirming that further talks are scheduled. Meanwhile, Iran has publicly reaffirmed its commitment to continue uranium enrichment
Although both Tehran and Washington have expressed a preference for diplomatic solutions to the longstanding nuclear dispute, significant differences persist regarding key ‘red lines’.
US officials have insisted that Iran must halt uranium enrichment, a demand Iranian representatives have labelled a “red line,” affirming their right to enrich uranium on Iranian soil.
Nonetheless, Iran has shown willingness to reduce enrichment levels temporarily and to decrease its stockpile of highly enriched uranium-uranium enriched beyond civilian needs-but only to the limits agreed upon in the 2015 nuclear deal, from which the US withdrew under then President Donald Trump.
Tehran has emphasised that it will not accept stockpiles lower than those previously agreed, while proposing a phased approach to reductions, a point of contention with Washington.
The United States and Iran are currently engaged in delicate negotiations aimed at reviving a nuclear deal that would limit Tehran’s nuclear programme in exchange for the easing of crippling economic sanctions.
However, despite progress, significant differences remain, particularly concerning Iran’s uranium enrichment activities and the scope of sanctions relief. Both parties have expressed a preference for diplomacy over military confrontation, yet unresolved issues continue to complicate the path to a final accord.
Should a new nuclear deal be successfully concluded, it could have far-reaching implications for regional and global politics. Economically, Iran stands to benefit substantially from the lifting of sanctions, which have severely constrained its oil exports and broader economy.
The release of frozen assets and renewed access to international markets could revitalise Iran’s economy, potentially increasing its oil production and exports.
This, in turn, might influence global oil prices by adding significant supply to the market.
Politically, the deal could pave the way for a thaw in Iran’s relations with Western countries and possibly ease tensions in the volatile Middle East, although Tehran’s regional policies and support for proxy militant groups remain a source of concern for its neighbours.
Nevertheless, the US-Iran nuclear deal’s success hinges on navigating complex diplomatic challenges and ensuring compliance from both sides. Iran insists on continuing uranium enrichment, which remains a sticking point for Washington and its allies, who seek robust verification mechanisms to prevent nuclear weapon development.
Moreover, internal political divisions within Iran and scepticism in the US Congress pose additional hurdles.
President Donald Trump, visiting Qatar as part of a three-country Middle East tour, has urged it to use its influence with Iran to persuade its leadership to agree to dial back its rapidly advancing nuclear program.
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