Key facts
- President Donald Trump stated on Monday that Iran wants to make a deal and he will decide if the US will engage.
- Trump demanded Iran agree to never possess a nuclear weapon or bomb.
- Trump demanded the Strait of Hormuz be immediately open for unrestricted shipping.
- A senior Iranian source indicated a potential deal does not include nuclear issues.
- Iran's Foreign Ministry stated management of the Strait of Hormuz should be decided by Iran and Oman.
- Kazakhstan signaled willingness to hold Iran's uranium stockpile if a deal is reached.
President Donald Trump announced on Monday that Iran is seeking a deal and he will determine if the United States will participate in such efforts. Trump stated on Truth Social that the "failing Nation of Iran wants to make a deal, quickly and badly," and that he is "open to" the concept.
Trump also laid out conditions for a deal, demanding that Iran agree to never possess a nuclear weapon or bomb and that the Strait of Hormuz be immediately open for unrestricted shipping traffic in both directions. He added that nuclear material would be "unearthed" by the United States. A White House official reiterated that Trump will only make a deal that is good for America and satisfies his redlines regarding Iran's nuclear program.
However, a senior Iranian source told Reuters that an agreement was close but had not yet been approved, and that the potential deal does not include any nuclear-related issues. Iran's semi-official Fars news agency, citing sources, called Trump's comments an "attempt to portray a fabricated victory." Iran's Foreign Ministry spokesperson, Esmaeil Baghaei, stated on state TV that the management of the Strait of Hormuz must be decided by Iran and Oman. Fars news agency added that the strait would be reopened under Tehran's conditions after the US lifts its blockade on Iranian ships.
There was an agreement to release $12 billion of Iran's frozen assets, though Trump stated no money would be exchanged "until further notice." Trump also indicated that mines would be removed from the Strait of Hormuz and trapped ships might begin to depart. Kazakhstan has signaled its willingness to accept Iran's stockpile of highly enriched uranium if a deal is reached.
Iran is seeking the lifting of sanctions, the withdrawal of US forces from the region, and an end to Israel's offensive in Lebanon as part of any peace deal. Trump, however, claimed the war with Iran will end immediately after the US midterm elections in November, asserting that Tehran cannot sustain the conflict much longer and is attempting to influence the US vote. He also stated that the US is not actively seeking negotiations but left the possibility open. The conflict has led to attacks on vessels in and around the Strait of Hormuz, with Brent crude rising above $100 per barrel due to concerns over global energy supplies.