DUBAI — U.S. President Donald Trump declared Saturday that a landmark nuclear and security agreement with Iran was “largely negotiated,” only to have Iranian officials fire back within hours that no deal is imminent despite what they called “significant progress.”
The contradictory signals cap weeks of back-channel negotiations aimed at ending open skirmishes near the Strait of Hormuz and halting a spiral of strikes between the U.S. and Iranian forces that has rattled global energy markets.
“A large portion of the issues between Iran and the United States have been resolved,” Iran’s Foreign Ministry spokesman Esmaeil Baghaei said Saturday, according to Mehr News. “But a final agreement is not imminent.” He added that “differences remain” on the nuclear programme — the deepest sticking point in any accord.
Trump, speaking from the White House earlier Saturday, made clear he wanted results — but pressed his own team not to rush. “I told them, don’t rush this,” Trump said. “We’re close, maybe very close, but I’d rather get it right than get it fast.”
The potential deal, as described by U.S. officials familiar with the talks, would immediately reopen the Strait of Hormuz, the artery through which roughly a fifth of the world’s oil flows. Iran would freeze enrichment above five percent and accept enhanced IAEA inspections for 90 days, during which a broader nuclear framework would be negotiated. In exchange, sanctions would be paused — not permanently lifted — to give Tehran time to verify goodwill.
But regional opposition threatens the deal’s survival before it is signed. Israeli Prime Minister Benjamin Netanyahu, who was briefed by Washington on the outline, issued a stark warning Friday: Israel would reserve the right to act alone against Iran’s nuclear facilities if any deal fell short of permanent dismantlement.
“We will not hesitate,” Netanyahu said in a televised statement. “If Iran cheats — we cheat.”
Secretary of State Marco Rubio, speaking from New Delhi where he was on a visit, offered cautious public support for the framework but stopped short of endorsing it. “The President sets the policy,” Rubio told reporters. “The goal is to ensure Iran never acquires a nuclear weapon. Every deal must be judged against that standard.”
The timing of any announcement remains unclear. U.S. officials said the two sides were still separated by substantive gaps on the nuclear timeline — specifically how long Iran must keep enrichment capped before a permanent deal is signed. Iran wants that period extended to 180 days; Washington initially pushed for 60.
Markets responded with measured optimism. Brent crude slipped below $99 a barrel Saturday — its first retreat in six sessions — tracking hopes that Hormuz might reopen. The dollar strengthened against emerging-market currencies on the expectation of reduced geopolitical risk.
If a deal is announced, it would immediately affect diplomatic calculations across the Middle East — potentially reshaping the calculus behind Israel’s campaign in Lebanon and Gaza, and altering China’s and India’s energy procurement strategies, both of which have pivoted to Brazilian crude as a Hormuz hedge.
Negotiations are expected to resume at a third-country venue within days, according to a person familiar with the talks who asked not to be named because they are not authorised to speak publicly.