President Donald Trump says he is once again open to talks with Iran. Negotiations to end the war have stalled since the Memorandum of Understanding (MOU) was signed in June. Trump previously said he was uninterested in speaking with Iran.
“The failing Nation of Iran wants to make a deal, quickly and badly. I will determine whether or not the U.S.A. will choose to engage – The concept of which we are open to,” the President wrote on Truth Social Monday.
In an interview with Bloomberg on Sunday, Energy Secretary Chris Wright proposed a nuclear agreement where the US supplies Iran with nuclear fuel if Tehran eliminates its uranium enrichment program.
“We prefer to negotiate. Or, they can continue to have a covert, buried, lied-about, hidden nuclear weapons program and face the U.S. military, which will ensure they do not develop nuclear weapons.” He continued, “We can supply fuel from outside the country. They could join the community of nations again and bring peace and prosperity to their people.”
At the Republican convention last week, Trump said the war against Iran will come to an end after the midterm election.
There is no indication that Iran has made a new overture to the US for talks. Tehran is demanding that Washington meet its obligations under the MOU before resuming the diplomatic process.
Last month, Trump said he was not interested in resuming negotiations with Iran. When asked about restarting talks, the President replied, “Maybe at some point.”He continued, “But right now, I think the situation is so good. Maybe at some point.”
However, the situation in the Middle East has rapidly changed since Trump made those remarks. Two weeks ago, the war reignited when the US attacked Iran’s Larak Island. Iran has responded by striking US military bases in the region.
The renewed diplomatic opening comes as the escalating war is putting increasing pressure on global energy markets.
The increased fighting has also led to attacks on shipping in the Strait of Hormuz. The US has attacked a handful of commercial vessels near Iranian ports, and US Central Command claims the blockade has prevented over 100 ships from reaching Iran.
Iranian forces have attacked several ships in the Persian Gulf and Strait of Hormuz. Reuters reported on Monday that fewer than ten ships a day crossed the Strait over the past week.
Trump’s current strategy calls for collapsing the Iranian economy with sanctions and the blockade while allowing enough Gulf oil to reach the global market to keep the price of gas from continuing to climb.
That plan faced significant setbacks this week as Ansar Allah hit Saudi energy infrastructure and drone strikes from Iraq disabled the country’s East-West pipeline. The pipeline, The pipeline is expected to be largely out of service for three to five weeks. The pipeline had been moving as much as four million barrels of oil per day from Saudi Arabia’s Persian Gulf coast to the Red Sea.
Brent crude was trading over $107 per barrel on Monday.
