(Bloomberg) — Iran says the latest U.S. offer goes some way to bridging the divide between the warring sides as they seek to turn a fragile ceasefire into a peace deal.
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The semi-official Iranian Student News Agency reported on Thursday that Tehran was responding to a text submitted by the United States that “closes the gap to some extent,” without revealing where it obtained the information. “Narrowing the scope further requires Washington to end its temptation to go to war.”
Iran’s foreign ministry separately said the exchange of information was based on Iran’s 14-point text from a few weeks ago. The plan is essentially a short-term deal that would see Iran reopen the Strait of Hormuz, the United States lift its blockade of Iranian ports, and then the warring sides enter deeper talks over Tehran’s nuclear program.
Iran has not said when it will formally reply to the United States. Iran’s Foreign Ministry reiterated its hope that all parties will commit to ending the fighting “on all fronts, including in Lebanon.” It also called for the unfreezing of sanctioned assets.
Field Marshal Asim Munir, who claims to be Pakistan’s most powerful man, will visit Tehran on Thursday, ISNA reported. Islamabad is the main mediator between the two sides.
These developments come amid renewed threats of escalation in the ongoing standoff between the United States and Iran.
U.S. President Donald Trump told reporters on Wednesday that U.S. diplomatic relations with Iran are in the “final stages,” raising investor hopes of a deal. U.S. Treasury bond prices rose and oil prices fell.
But the president later warned that he could resume attacks in the coming days if Iran did not agree to his conditions, a threat he has made repeatedly since the ceasefire took effect on April 8.
“Either we make a deal or we do something a little bit nasty,” he said. “But hopefully that won’t happen.”
Key sticking points between the two sides include Iran’s nuclear enrichment and its stockpile of refined uranium. The United States demanded that Tehran hand it over and pledge to halt enrichment activities for at least a decade over concerns that Tehran could use it to build an atomic bomb. Iranian leaders have balked at the remarks in public.
Reuters reported on Thursday that Iran’s Supreme Leader Ayatollah Ali Khamenei has issued a directive saying that the country’s near-weapons-grade uranium should not be shipped abroad. Reuters reported, citing two unnamed Iranian sources.
Iran has resisted calls to ship its enriched uranium stockpile to the United States but has said it can move it to third countries. Foreign Minister Abbas Araghchi thanked Russia last week for offering to obtain the materials. Russia, a key ally of Tehran and a party to the last Iran nuclear deal signed in 2015, has warned that the idea has not yet been discussed.
After the Reuters report, oil prices reversed losses and rose $2 to $107 a barrel. Since the conflict began, the benchmark price has increased by 45%.
What we know about Iran’s nuclear program: Explainer
Iranian President Masoud Pezeshkian insists the country is not on the verge of surrender. “Forcing Iran to surrender through coercion is nothing more than a fantasy,” he posted on X on Wednesday.
Another point of contention is Lebanon, where Israel is battling Tehran-backed Hezbollah militants and joined with the United States in launching attacks on Iran that sparked a war in late February. Israel refuses to withdraw its troops from the Arab country. The ceasefire is fragile and attacks by Israel and Hezbollah continue on a daily basis.
Axios reported, citing unnamed sources, that Trump and Israeli Prime Minister Benjamin Netanyahu had a tense phone call on Tuesday. It did not detail what the U.S. leader told Netanyahu, who said he did not believe Iran would abide by any peace deal and suggested strikes against the Islamic Republic must resume at some point. Israel believes Iran’s military power should be further weakened.
Shortly before the report was released, Trump told reporters that Netanyahu would “do whatever I want him to do.”
Israeli Energy Minister Eli Cohen said Iran would no longer have a “sacred cow” if fighting resumed.
“The next phase will include achieving economic goals, the energy base – oil, gas and power stations,” he told Kimbalam Radio on Wednesday.
Earlier, Iran warned that it would retaliate outside the Middle East if hostilities resumed between the United States or Israel.
“If aggression against Iran happens again, the promised regional war will this time expand beyond the region,” the IRGC said, according to the semi-official Tasnim news agency. Since the war began, the IRGC has exerted greater influence over Iran’s decision-making, vowing to “carry out devastating strikes where you least expect.”
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Goldman Sachs Group Inc said global crude and product inventories are drawing down at a record pace this month as the war drags on and reduces supplies.
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Chinese President Xi Jinping once again warned against a resumption of hostilities. “A comprehensive ceasefire is imperative, and the resumption of war is even more unacceptable. It is especially important to persist in negotiations,” Xi Jinping said when meeting Russian President Vladimir Putin in Beijing on Wednesday.
–With help from Dan Williams.
(Updated with summary of Reuters story.)
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