FLASH
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United Nations Secretary-General António Guterres expressed concern about the recent exchanges of fire in the Strait of Hormuz.
"This is a critical moment for reducing tensions and calls on all parties to exercise maximum restraint to avoid further escalation," said UN Deputy Spokesperson Farhan Haq at a press conference in New York.
The Secretary-General calls on all parties to fully adhere to the ceasefire and to refrain from any actions that could lead to further escalation or undermine ongoing diplomatic efforts.”
But what are the key issues between Washington and Tehran as they hope to reach an agreement to end the war?
Nuclear
The US believes Iran wants to build a nuclear bomb. Iran has always denied this, stressing that its atomic program is for peaceful purposes only.
The focus is on uranium enrichment, which generates fuel for nuclear power, but can also produce material for a missile warhead.
Washington wants Iran to give up its right to enrichment for 20 years and hand over its stockpile of highly enriched uranium. Iran wants its right to enrichment to be recognized, Reuters writes.
Ballistic missile
A key US demand before the war was that Iran limit the range of its ballistic missiles so that they could not reach Israel.
It says its war has succeeded in degrading Iran's missile stockpiles, and it is unclear whether it will continue to insist on range limitations in a larger peace deal.
Iran has always refused to discuss its ballistic missiles, saying its right to conventional weapons cannot be on the table and that it still has a large arsenal.
Sanctions and frozen assets
Iran's economy has been battered by sanctions for years, contributing to nationwide unrest in January. Tehran urgently needs them lifted and frozen assets released. It also wants reparations for war damages.
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