Iran and US hold third round of indirect talks in Muscat

Iran and US hold third round of indirect talks in Muscat
The third round of indirect negotiations between Iran and the United States concluded after four hours in Muscat / bne IntelliNews
By bnm Tehran bureau April 26, 2025

The third round of indirect negotiations between Iran and the United States concluded after several hours in Muscat, with expert teams now discussing the details of a potential agreement on April 26.

According to IRIB, both delegations have decided to return to their respective capitals to consult with higher-level authorities due to the importance of the details being negotiated.

Oman's Foreign Minister has announced that the discussions between Iran and the United States indicates a shared commitment to achieving an agreement founded on mutual respect and lasting obligations.

"Fundamental principles, objectives, and technical concerns were thoroughly addressed during the talks," he said, "Negotiations are set to continue next week, with a high-level meeting tentatively scheduled for May 3." 

Iran's Foreign Minister Abbas Araghchi expressed cautious optimism while acknowledging that there are still significant differences to address, in an interview following the meetings.

"These negotiations do not mean that all differences have been settled. We need to see how we can resolve the various issues," he explained.

Regarding the future of the talks, he noted, "Our hope remains cautious. We are moving from generalities into more specific topics."

He stressed the need for technical experts in economic and nuclear matters as the talks progress. "At this stage, the presence of nuclear and economic experts is essential. If needed, experts will be brought in for discussions on any issue," he stated.

Araghchi also expressed satisfaction with the pace and direction of the negotiations. "I am satisfied with the progress and speed of the talks," he concluded. "I hope we can move forward quickly, though I remain cautious…The willingness of the other side is also evident."

Expert delegations headed by Iranian Foreign Minister Abbas Araghchi and US Chief Negotiator Steve Witkoff were engaged in discussions that have lasted more than four hours. Foreign Ministry spokesperson Ismail Baqaei confirmed that Iran's technical delegation included experienced sanctions specialists, economic and banking experts, along with nuclear programme specialists who handle interactions with the International Atomic Energy Agency.

According to Mehr News Agency, representatives from the US Treasury Department were also participating in these discussions.

"The Islamic Republic of Iran remains steadfast in its principled positions regarding the necessity of ending unjust sanctions and its readiness to build trust regarding the peaceful nature of Iran's nuclear programme," Baqaei told reporters during a media briefing before the meetings.

The spokesperson emphasised that experience has shown reaching an understanding requires "respect for Iran's legitimate rights under the Non-Proliferation Treaty and assurances regarding the effective termination of sanctions."

This round follows two previous sessions of indirect talks, with Oman continuing its role as intermediary between the two nations who have not maintained formal diplomatic relations since 1980. The discussions come amid ongoing international concerns about Iran's nuclear activities and the impact of economic sanctions that have severely constrained the country's economy.

Neither side has released details about specific progress made during the current round of negotiations, though analysts suggest the presence of technical experts indicates discussions of concrete mechanisms for sanctions relief and nuclear verification protocols.

Markets in Tehran have shown optimism over the outcomes of the talks. The US dollar has fallen below the IRR 800,000 threshold in Tehran's open market, with field observations from Ferdowsi Square showing brokers purchasing dollars at IRR 780,000 and selling at between IRR 790,000 to IRR 794,000 at noon.

The euro also experienced a price decrease in today's trading, with intermediaries selling at rates between IRR 890,000 to IRR 900,000.

However, dollar's price started to increase later during the day finishing at IRR 843,000, up by 4.33% compared with previous day's close.

Tehran Stock Exchange's main index (TEDPIX) also gained over 15,000 points on April 26, reaching 3,151,000. The stock market has closed in positive territory for 11 out of the past 13 trading days.

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