Read the full article on KETV 7
President Donald Trump said negotiations with Iran are “proceeding nicely,” but warned that the war could restart if a deal isn’t reached.Trump wrote that the outcome would either be “a great deal” or “no deal at all,” adding that it would mean: “Back to the Battlefront and shooting, but bigger and stronger than ever before.” Iran’s foreign ministry acknowledged progress but said no one can claim an agreement is on the verge of being signed. The two sides are reportedly working on a framework that could end the war, gradually reopen the Strait of Hormuz, and require Iran to give up its stockpile of highly enriched uranium. However, major questions remain, including what nuclear limits Iran would accept and how quickly the strait would reopen.The Strait of Hormuz, one of the world’s most important oil shipping lanes, has been disrupted, stranding ships carrying oil, natural gas, fertilizer and other supplies, which has pushed prices higher.Under the emerging framework, the strait would reopen gradually as the U.S. ends its blockade of Iranian ports. Sanctions relief and the release of billions of dollars in frozen Iranian funds would be negotiated during a 60-day period.Iran would be expected to give up its stockpile of highly enriched uranium, though how that would happen remains subject to further talks. Iran would be expected to give up its stockpile of highly enriched uranium, though how that would happen remains subject to further talks. One official told the Associated Press some would likely be diluted and the rest transferred to a third country.The next step in the negotiations will determine whether talks can move from a possible framework to a signed agreement. That would determine when the Strait of Hormuz reopens and how quickly any relief might affect oil markets and gas prices.If the Strait reopens, it could ease pressure on global oil markets. However, without a signed deal, it is unclear how quickly drivers might see relief at the pump.
President Donald Trump said negotiations with Iran are “proceeding nicely,” but warned that the war could restart if a deal isn’t reached.
Advertisement
Trump wrote that the outcome would either be “a great deal” or “no deal at all,” adding that it would mean: “Back to the Battlefront and shooting, but bigger and stronger than ever before.” Iran’s foreign ministry acknowledged progress but said no one can claim an agreement is on the verge of being signed. The two sides are reportedly working on a framework that could end the war, gradually reopen the Strait of Hormuz, and require Iran to give up its stockpile of highly enriched uranium. However, major questions remain, including what nuclear limits Iran would accept and how quickly the strait would reopen.
The Strait of Hormuz, one of the world’s most important oil shipping lanes, has been disrupted, stranding ships carrying oil, natural gas, fertilizer and other supplies, which has pushed prices higher.
Under the emerging framework, the strait would reopen gradually as the U.S. ends its blockade of Iranian ports. Sanctions relief and the release of billions of dollars in frozen Iranian funds would be negotiated during a 60-day period.
Iran would be expected to give up its stockpile of highly enriched uranium, though how that would happen remains subject to further talks. Iran would be expected to give up its stockpile of highly enriched uranium, though how that would happen remains subject to further talks. One official told the Associated Press some would likely be diluted and the rest transferred to a third country.
The next step in the negotiations will determine whether talks can move from a possible framework to a signed agreement. That would determine when the Strait of Hormuz reopens and how quickly any relief might affect oil markets and gas prices.
If the Strait reopens, it could ease pressure on global oil markets. However, without a signed deal, it is unclear how quickly drivers might see relief at the pump.
