U.S. Pessimistic on Nuclear Talks Revival: Iran Snapshot
U.S. Pessimistic on Nuclear Talks Revival: Iran Snapshot
(Bloomberg) -- Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Latest developments
The U.S. said the revival of a nuclear deal with Iran may not happen soon following recent requests from Tehran, including that Washington removes the Islamic Revolutionary Guard Corps from its list of terrorist organizations.
“I can’t be confident it’s imminent,” Robert Malley, U.S. Special Envoy for Iran, told reporters on Sunday at a conference in Qatar. “A few months ago we thought it was imminent.”
The comments come as the U.S. reassesses the political costs of reviving the 2015 pact that limited Iran’s nuclear activities in return for sanctions relief, including on oil exports. Russia’s war on Ukraine is also complicating the negotiations, which involve Moscow.
Iranian Foreign Minister Hossein Amirabdollahian told the European Union’s coordinator that Iran is serious about the Vienna talks and has “put forward necessary initiatives” to reach a deal, the Iranian foreign ministry said on its official Telegram channel on Sunday. Negotiators, especially the U.S. should adopt a “realistic approach” to resolve outstanding issues, he said. A deal could be within reach if the U.S. “is realistic” Iran’s top nuclear negotiator Ali Bagheri Kani said after discussions on Sunday with Enrique Mora, the EU’s main envoy for the Vienna talks, state-run Nour News said.
Guarantees, sanctions removal and de-listing the IRGC as a terrorist organization are “important issues that should be resolved before reaching an agreement on the nuclear deal,” Kamal Kharrazi, chairman of Iran’s Strategic Foreign Relations Council said on Monday. “Of course, these issues depend on the U.S.’ will.”
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Oil
Oil retreated as China’s worsening virus resurgence raised concerns about demand in the world’s biggest crude importer, while Iranian-backed fighters in Yemen announced a temporary pause in hostilities against Saudi Arabia.
West Texas Intermediate and Brent futures fell more than 3% in Asian trading after Shanghai said it will lock down areas in the city to conduct mass Covid-19 testing to try and stem an outbreak. The leader of Yemen’s Houthi group announced a three-day truce on Saturday after an escalation of attacks on the kingdom and its oil facilities over the past week.
Agenda
- OPEC+ meeting on Thursday
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