Talks continued over the weekend in Vienna aimed at reviving Tehran’s 2015 nuclear deal with world powers.
Iranian state media reported comments from Iran’s foreign minister Hossein Amirabdollahian, that he
“stressed the need for a realistic U.S. response to Iran’s constructive proposals on various issues to make the deal work”
Talks have been ongoing for months and months. No breakthrough is expected any time soon. We’ll see.
The point of keeping track of all this is that oil traders opine that if a deal is reached more Iranian oil will, eventually, flow back into global markets.
The background to this is that in 2015 Iran agreed with the United States, Britain, France, Germany, Russia and China, to curb Iranian enrichment activity. As part of the deal, the Joint Comprehensive Plan of Action, sanctions on Iran were removed. In 2018 then US President Trump abandoned the agreement and imposed sanctions back on Iran. Iran has since rebuilt its stocks of enriched uranium.
European diplomats are speaking with their Iranian counterparts. The US is not directly involved in the talks.