US and Iran 'Made Progress' During Talks

Talks between the US and Iran in Geneva Tuesday "made progress," although many details yet need to be discussed.

The Talks: People involved said that Tehran seemed willing to "compromise around the edges of its nuclear program, including moving its near-weapons-grade uranium offshore." If the details are ironed out in future talks, an agreement between Tehran and the US could lead to the removal of sanctions on Iran's oil and gas industry as well as the possibility for other business arrangements. One detail of concern moving forward involves questioning whether an arranged deal would require limiting the range of Iran's ballistic missiles. Iran has reportedly said that it would only discuss the missiles with its regional counterparts.

Official Statements: Iranian Foreign Minister Seyed Abbas Araghchi called the talks "constructive technical discussions," and said "Compared to the previous round, this session involved fully serious discussions and was conducted in a more constructive atmosphere." Araghchi added that "good progress was made" and in his view there is a "positive path ahead."

Oil Prices: Oil prices fell following Araghchi's statements. US crude oil fell by 0.97%, bringing cost on one barrel of oil down to $62.28, while global benchmark Brent was down 2.07%, equaling $67.23 per barrel. Some, however, like Giovanni Staunovo, a commodity analyst at UBS Group AG, showed concern over the "escalating" rhetoric still coming from both sides.

What's Next: Both sides will draft and exchange texts outlining the deal they are willing to make before setting a date for future talks. Araghchi noted that the next round of talks would be "more difficult and detailed."

For Context: President Donald Trump has sent "a massive Armada" into the Iranian area, threatening to attack the country if a deal is not made. These threats were made in January, and came shortly after mass unrest in Iran, with wide variations in reporting the death toll estimates of the protesters. Iran's Supreme Leader Ayatollah Ali Khamenei said on Tuesday before the talks in Geneva, that "The Americans constantly say that they've sent a warship toward Iran. Of course, a warship is a dangerous piece of military hardware. However, more dangerous than that warship is the weapon that can send that warship to the bottom of the sea."

How The Media Covered It: Some outlets on the left, like Bloomberg (Lean Left bias) and CNBC (Lean Left) tended to frame the talks around the falling oil prices and the potential for business deals to be made upon a successful agreement and the removal of "tough sanctions." The Wall Street Journal (Center) noted that the onus has been placed on Tehran for taking the next steps, as US officials have said the Iranians have agreed to come back within two weeks "to address some of the open gaps in our positions." Some outlets on the right, like the Washington Examiner (Lean Right) and The National News Desk (Right) tended to highlight Trump's "indirect" involvement in the talks and the warnings from Trump saying it would "be very traumatic for Iran" if they don't make a deal.

Written by the AllSides staff (of humans). Learn more. Support our mission. Suggest an improvement to this summary.