Tehran Says Waiting on U.S. to Reach Nuclear Deal: Iran Snapshot
(Bloomberg) -- Here is a snapshot of what's happening with Iran, its nuclear talks and energy markets.
Latest developments
Iran's Foreign Minister Hossein Amirabdollahian said he was waiting for the U.S. to respond to Tehran's suggestions for resolving the roadblocks to a revived nuclear deal.
“The ball is in their court,” Amirabdollahian said in a phone call to United Nations Secretary-General Antonio Guterres on Sunday.
Talks in Vienna have been on hold for the past month as negotiators quibble over a Trump-era decision to designate the Islamic Revolutionary Guard Corps as a foreign terrorist organization. Iran wants the designation removed.
The 2015 accord limited Iran's atomic activities in return for the easing of U.S. sanctions, including on oil exports.
Over the weekend, the UN said a Saudi-led military coalition and Iranian-backed Houthi fighters had agreed to a two-month truce from their fighting in Yemen. That may ease regional tensions and make U.S. allies such as Saudi Arabia less wary of the Iran deal being revived.
Latest coverage
- Iran Says Agreement to Revive Nuclear Deal With U.S. Is Close
- U.S. Uses New Mideast Forum to Address Iran Deal Concerns
- U.S. Says Iran Nuclear Deal Not Imminent Amid Deadlock Over IRGC
- Oil Prices Don't Fully Reflect Russian Supply Risks, Says Vitol
Oil
Oil climbed -- with West Texas Intermediate rising above $100 a barrel -- as traders weighed a warning from Vitol Group that prices sunk too much last week given the risk of Russian exports being disrupted.
An Iran nuclear deal may bring 500,000 to 1 million barrels per day of oil back onto international markets. That would help rebalance supply and demand, even if implementation of any accord would likely be staggered over several months.
©2022 Bloomberg L.P.
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