US President Donald Trump has reiterated that Iran must not be allowed to acquire a nuclear weapon, as diplomatic efforts to end the Middle East conflict showed little sign of progress and crude oil prices rose amid growing uncertainty over regional supply routes.
“The number one Goal is, and always will be, that Iran cannot have, in any way, shape, or form, a Nuclear Weapon.” on Monday.
The renewed warning came as Iran signalled that it had yet to decide whether to resume negotiations with the US.
Oil prices rise as Iran-US talks remain stalled
Brent crude futures climbed 92 cents, or 1.04%, to $89.44 a barrel by 1002 GMT, after touching a session high of $89.68. US West Texas Intermediate crude gained 55 cents, or 0.67%, to $82.95 a barrel.
Both benchmarks had advanced more than 5% last week after attacks on tankers operated by the in the Strait of Hormuz and an attack on a Saudi Aramco refinery.
Iran says Islamabad MoU talks deadline no longer relevant
Iranian Foreign Ministry spokesman Esmail Baghaei said the Islamabad agreement did not establish a 60-day deadline. According to Baghaei, negotiations covering issues including Iran’s nuclear programme were intended to take place over a 60-day period.
He said those talks did not begin because of what Iran described as a “blatant and extensive violation” by the US. As a result, Baghaei said, the 60-day period was no longer relevant.
Iranian Foreign Minister Abbas Araqchi also said over the weekend that Tehran had not decided whether to resume talks with Washington.
At the same time, Baghaei said discussions with Oman were continuing, although the process was taking longer because of the complexity of the issues involved, the participation of multiple parties and what he described as efforts by some countries to undermine the talks.
Strait of Hormuz shipping slows after tanker attacks
The diplomatic deadlock has coincided with a slowdown in shipping through the , one of the world’s most important routes for energy supplies.
Kpler shipping data showed that only five commodity vessels passed through the strait on Saturday, while none were recorded on Sunday. That compared with 31 vessels during the previous weekend.
The slowdown followed attacks on tankers in the region and has added to concerns about the security of maritime traffic.
Iran links Hormuz reopening to US commitments
Iran’s Islamic Revolutionary Guard Corps has also tied the reopening of the Strait of Hormuz to US commitments under the Islamabad memorandum.
Yadollah Javani, the political deputy of the IRGC, said: “The Strait of Hormuz will reopen once the United States fulfills its commitments under the Islamabad memorandum.”
Trump, meanwhile, has urged Americans to accept somewhat higher petrol prices while the conflict continues. With negotiations at an apparent standstill and maritime traffic through Hormuz restricted, energy markets remain sensitive to any further escalation or signs of progress in diplomacy.
