Oman's foreign ministry expressed satisfaction on X, stating, "Iran and the US have agreed to enter the next phase of discussions aimed at securing a fair, enduring, and binding deal. This deal will ensure Iran is completely free of nuclear weapons and sanctions."
After concluding the indirect meeting with the U.S. team on Saturday, Iranian Foreign Minister Abbas Araghchi adopted a more moderate tone: "We made clear how many in Iran believe the JCPOA is no longer sufficient," he wrote on X. "For them, the deal's legacy is 'lessons learned.' Personally, I tend to agree." This stance marks a shift from Iran's initial reluctance towards the talks. Describing the atmosphere in Rome, still without direct U.S. contact, Araghchi called it "relatively positive," noting progress on the principles and objectives of a potential agreement. "For now," he cautioned, "optimism may be warranted, but only with great caution."
U.S. officials, according to Reuters, also acknowledged the progress and expressed optimism. Both sides have agreed to a technical meeting next Wednesday to address any remaining disagreements, ahead of a third major meeting the following Saturday.
In a related development, Abbas Araghchi is scheduled to deliver a virtual keynote address at the Carnegie International Nuclear Policy Conference on Monday. This move signals Tehran's intention to engage directly with the U.S. policy community during these nuclear discussions. Some U.S. Republican politicians have criticized this, opposing providing Iranian officials a platform to present their policies, though.
As the U.S.-Iran talks showed signs of advancement, Israeli Prime Minister Benjamin Netanyahu reiterated his firm position against Iran acquiring nuclear weapons in a national address. He claimed credit for disrupting Iran's nuclear ambitions a decade ago and vowed to prevent them from obtaining such weapons under his leadership.
If these talks lead to a significant breakthrough, as Iran hopes, it would have a substantial impact on the currently stable crude oil markets. With the third-largest oil reserves in OPEC+, Iran could quickly flood the market to recover lost revenue and attract crucial investments to modernize its aging infrastructure. Analysts estimate Iran's potential output at 3.8 million barrels per day, contingent on sanctions being lifted and legitimate oil sales being permitted.
The price of crude oil next week, after the Easter holidays, will reflect how the markets perceive the optimism expressed by Iran following the second round of talks.
The price of crude oil next week, after the Easter holidays, will reflect how the markets perceive the optimism expressed by Iran following the second round of talks.
