Iran FM and US envoy Witkoff to hold indirect talks in Oman

Iran’s Foreign Minister, Abbas Araghchi, announced plans to engage in indirect negotiations with U.S. envoy Steve Witkoff in Oman, aiming to address Tehran’s advancing nuclear program amid escalating Middle East tensions. Araghchi emphasized that these discussions would be mediated, likely through Omani intermediaries, contrasting with President Donald Trump’s assertion that the talks would be direct.

The U.S. seeks to establish direct, high-level negotiations to prevent Iran from developing nuclear weapons, with Trump warning of severe consequences if diplomacy fails. Conversely, Iran insists on indirect talks, citing the need for mediation due to existing tensions. Araghchi stated, “Our main goal in the talks is naturally restoring rights of people as well as lifting sanctions, and if the other side has a real will, this is achievable, and it has no relation to the method, either direct or indirect.”

Economic Implications and International Reactions

The announcement of potential negotiations has influenced Iran’s struggling economy. The rial, which had plummeted to a record low of over 1 million rials to the dollar, showed signs of recovery, trading at 990,000 rials per dollar. The Tehran Stock Exchange also experienced a 2% uptick.

Internationally, reactions are mixed. The Kremlin expressed support for the talks, with spokesman Dmitry Peskov stating that Russia backs both direct and indirect negotiations as a means to de-escalate tensions. citeturn0search11 However, Israeli Prime Minister Benjamin Netanyahu, during discussions in Washington, emphasized the necessity of preventing Iran from acquiring nuclear weapons and expressed skepticism about the effectiveness of the negotiations.

These developments follow Trump’s withdrawal from the 2015 nuclear agreement during his first term, which had imposed limitations on Iran’s nuclear activities in exchange for sanctions relief. Since the U.S. exit, Iran has escalated its uranium enrichment, approaching weapons-grade levels, raising international concerns. The upcoming negotiations represent a critical juncture in addressing these escalating tensions and the broader implications for regional stability.