Iran and the United States could invest jointly in oil and gas development as part of the new nuclear deal the two are currently negotiating, an official from Tehran’s foreign ministry said Sunday, in the latest signal that Iran is willing to close a deal with the U.S. and avoid war.
“For the sake of an agreement’s durability, it is essential that the U.S. also benefits in areas with high and quick economic returns,” Hamid Ghanbari, deputy director for economic diplomacy at the Iranian foreign ministry, said, as quoted by the Fars news agency.
“The country must be prepared for all scenarios,” the official said, “while at the same time seriously pursuing the negotiations.” Ghanbari listed among potential areas of cooperation, besides oil and gas, also mining, urban development, and aircraft purchases.
The U.S. also seems to be prepared for all scenarios, continuing the buildup of military power in the Persian Gulf, with a second aircraft carrier on its way to the Gulf, Reuters reported.
“No one’s ever been able to do a successful deal with Iran but we’re going to try,” Secretary of State Marco Rubio told media in Europe, noting that President Trump preferred a diplomatic resolution to the situation.
Meanwhile, another Iranian official said Tehran would be willing to compromise on its nuclear program in exchange for sanction relief, noting that the ball was now “in America’s court to prove that they want to do a deal.”
U.S. and Iranian negotiators are set to meet in Geneva today for a new round of talks, with both sides essentially signaling they are ready for both a positive and a negative outcome from the talks. Oman will be moderating the negotiations. Oil traders will be watching the talks closely, too, due to the implications for Iran’s oil production. Currently, this stands at some 3.2 million barrels, which could go up or down depending on the outcome of the negotiations.
By Irina Slav for Oilprice.com
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