Iran says it will only agree to a deal with the United States if it is “fair and comprehensive,” as fragile negotiations continue amid a tense standoff in the Gulf.
Speaking after talks in China, Iran’s foreign minister Abbas Araqchi made it clear that Tehran is not interested in a quick fix.
Instead, he said any agreement must fully protect the country’s interests.
His comments come as U.S. President Donald Trump insists that negotiations are making “great progress.”
Trump recently ordered a temporary pause in a U.S. operation to escort commercial ships through the Strait of Hormuza move seen as an attempt to create space for diplomacy.
The waterway, one of the world’s most important corridors, has been largely shut since fighting broke out in late February, cutting off roughly a fifth of global oil supplies and sending energy markets into turmoil.
While Trump framed the pause as a sign that a deal may be close, Iranian officials have not directly responded to that specific offer.
Instead, they’ve doubled down on their position that any agreement must be balanced and respect Iran’s rights.
The standoff has already had a visible impact on global markets. Oil prices, which surged during the height of the crisis, have begun to ease slightly on hopes that tensions could cool.
Despite the cautious optimism, the situation remains delicate. The U.S. maintains a naval presence in the region and continues to enforce a blockade on Iranian ports, while Iran has warned it could deploy mines, drones, and missiles to control access to the strait.
Even so, a ceasefire agreed about four weeks ago is still holding—for now.
Behind the scenes, diplomatic efforts are ongoing but uneven. So far, only one round of direct talks has taken place, and attempts to schedule further meetings have stalled.
The stakes go far beyond the region.
The conflict has disrupted global trade, driven up fuel prices, and added pressure to an already fragile world economy.
Experts warn that even if a deal is reached soon, it could take months for markets to fully stabilise.
For now, both sides are talking but with very different ideas of what a final agreement should look like.
