Tehran Rejects Talk of Interim Nuclear Deal: Iran Snapshot

(Bloomberg) -- Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.

Latest developments

Iran wants a comprehensive nuclear deal with world powers that removes sanctions, including on oil exports, and won’t settle for an interim agreement, its foreign ministry said on Monday. The comments came as envoys continue efforts in Vienna to revive a 2015 accord that limited Iran’s atomic activities in return for U.S. sanctions relief.

With negotiations moving toward a state of limbo in recent months, diplomats have contemplated outcomes that fall short of fully restoring the pact, which the U.S. pulled out of in 2018.

“Iran is seeking a sustainable and reliable deal and any agreement that doesn’t meet these requirements won’t be on the agenda,” said a foreign ministry spokesperson, Saeed Khatibzadeh. “The U.S. return to the nuclear deal should come with necessary assurances and verifications and a chain of sanctions must be lifted. It can’t happen through an interim deal.”

Last week, U.S. State Department spokesman Ned Price said there had been “modest progress” in the talks.

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Oil

Oil steadied after recording the biggest weekly gain in a month as supplies rebounded in Libya and Kazakhstan, and as China strives to maintain its zero-tolerance approach to Covid-19.

After rising more than 5% last week, Brent crude was little changed on Monday at $82 a barrel.

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