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Iran intends to start negotiations with the United States within the next 60 days to reach a final agreement between the two countries, Iranian Deputy Foreign Minister Kazem Garibabadi announced, following reports of an agreement reached between Tehran and Washington aimed at ending the conflict.
According to Garibabad, the negotiation process is expected to take place in the coming weeks, with a focus on finalizing an agreement that would normalize relations between the parties and create conditions for reducing tensions.
The development has brought immediate reactions in international markets. Investors interpreted the announcement as a positive signal for stability in the region and for global energy supplies.
As a result, oil prices recorded a significant decline, while markets reflected expectations for an easing of geopolitical uncertainties that have affected the energy sector over the recent period.
Iran's Deputy Foreign Minister, Kazem Garibabadi, declared on state television that the protocol of the agreement announced on Sunday night to Monday paves the way for negotiations that will lead to a final resolution of the outstanding issues between the two countries.
"Negotiations will begin within 60 days with the aim of reaching a final agreement," he said, stressing, however, that Tehran's "distrust" of the United States remains.
Four key issues for Tehran
The Iranian official, specializing in legal matters, said the talks will focus on four main axes.
The first concerns the complete lifting of all sanctions imposed on the Islamic Republic of Iran, whether primary or secondary sanctions.
The second issue concerns the country's nuclear energy program, while the third relates to Iran's economic reconstruction and development.
Finally, Tehran is calling for the creation of a monitoring mechanism that will ensure that all parties adhere to the commitments they will make under the final agreement.
Falling oil prices
The announcement of the deal had an immediate impact on international energy markets.
Oil prices fell about 4% in early Asian trading as investors saw easing tensions in the Middle East as reducing the risk of disruptions to global oil supplies.
At around 02:30 Greek time, Brent North Sea crude oil for August delivery fell 4% to $83.84 per barrel.
At the same time, US WTI crude oil fell 4.51% to $81.05 per barrel and had fallen as much as 5% by the time markets opened.
Guterres: "Critical step towards peace"
The United Nations has responded positively to the announcement of the agreement.
UN Secretary-General Antonio Guterres called the development a "critical step" towards restoring peace in the Middle East.
"This is a decisive step towards a peaceful resolution of the conflict," Guterres said in a statement issued by his spokesman, Stephane Dujarric.
The UN chief also thanked the countries that participated in the mediation efforts, with particular reference to Pakistan.
Next steps at the G7 table
The agreement is expected to be at the center of discussions among G7 leaders, who are gathering in Evian, France, starting today.
French President Emmanuel Macron said the leaders would examine the consequences of the deal, support for Lebanon and ensuring the permanent reopening of the Strait of Hormuz.
At the same time, prospects for a broader agreement covering Iran's nuclear and ballistic programs will be discussed.
"The aim will be to see the consequences of this agreement, support for Lebanon, the permanent reopening of the Strait of Hormuz and obviously an agreement on Iran's nuclear energy program and ballistic missile program," the French president said after arriving in the city on the shores of Lake Geneva.
US President Donald Trump and the leaders of Germany, Canada, Italy, Japan and Britain will meet in Evian, with the US-Iran deal as one of the main topics on the agenda.
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