Media reports claim the US and Iran have reached an understanding on the general framework of the nuclear issue; Iranian Foreign Minister urgently refutes the rumor.
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Golden Ten Data, May 23 – Both WTI and Brent crude oil prices briefly plunged by over $2, reaching lows of $97.9/barrel and $98.5/barrel respectively. They then partially rebounded and are now trading at $99/barrel and $99.4/barrel. According to sources cited by Sky News Arabia, Iran has reached an understanding on the general framework regarding the nuclear issue in ongoing negotiations. Arrangements for Iran to hand over (or surrender) uranium materials are linked to the lifting of sanctions and will be implemented gradually. The source also stated that a full consensus has not yet been reached on reopening the Strait of Hormuz and restoring its previous status. The current focus of negotiations is to reach a mutual understanding on the Strait of Hormuz issue. Iran is concerned that Israel might pressure Trump, potentially prompting Trump to back down (or withdraw his position) on the agreement, so Iran is still demanding guarantees from the U.S. for any future agreements. The sources noted that if a principled statement is approved, negotiators will proceed to the next phase in a week, which will last 30 days. The principled statement under negotiation covers ending the war, halting related matters that led to the war, resolving the Strait of Hormuz issue, and reaching a solution on the nuclear issue.
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