Paul Wallace, Bloomberg News
DUBAI
EnergiuesNet.com 06 28 2022
Here is a snapshot of what’s happening with Iran, its nuclear talks and energy markets.
Latest developments
Nuclear envoys from the US and Iran are scheduled to begin talks in Qatar, in the latest attempt to revive the 2015 atomic pact between Tehran and world powers.
The discussions will be indirect and mediated by the European Union. Robert Malley, the US Special Envoy for Iran, headed to Qatar on Monday, according to people familiar with the matter. Iran’s chief nuclear negotiator, Ali Bagheri Kani, will get there on Tuesday, the country’s media said.
Both sides put the onus on the other to make concessions.
“We’re hopeful that in the latest round of talks we can reach the final point of an agreement provided that the US and European countries are realistic in their behavior,” Iran’s Foreign Minister Hossein Amirabdollahian said on Monday.
Negotiations in Vienna to restore the so-called Joint Comprehensive Plan of Action, which the US exited in 2018, have stalled repeatedly over the past year. A new deal would curb Iran’s nuclear activities in return for the lifting of sanctions, including on oil exports.
“The resumption of talks may appear to be a sharp shift from two weeks ago,” Eurasia Group analysts Henry Rome and Regina Argenzio said in a note. “Yet we had expected Iran to zig and zag in the coming months, as it seeks to keep the prospect for a deal afloat, test Western positions, and deflect blame. The revival of negotiations is probably necessary but certainly not sufficient for a revival of the deal.”
Latest coverage
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Oil
Oil rose for a third day as supply disruptions risked tightening the market further before OPEC+ members, including Iran, meet this week to discuss the cartel’s output strategy. Brent climbed 1.2% to above $116 a barrel in early trading, extending its gain this year to 50%.
A renewal of the nuclear deal would likely lead to extra volumes of Iranian oil on global markets, potentially weighing on crude prices.
bloomberg.com 06 27 2022
