According to Iranian media reports, America has talked about lifting the ban on Iranian oil.Image Credit source: Google Gemini
A big news has come out from the international market. US President Donald Trump has given the biggest offer to Iran so far. After this offer the prices of crude oil may reduce in the world. According to Iran's semi-government Tasnim news agency, a new draft of talks between America and Iran has come out. Under which America has agreed to temporarily lift the sanctions imposed on Iran's oil. The report says that this new draft is different from the previous proposals. Under this proposal, it allows relaxation in some restrictions only during negotiations.
Citing a source familiar with the talks, Tasnim said Iran is demanding the removal of all US sanctions before any long-term agreement. Tehran argues that any future agreement should guarantee relief from sanctions from Washington. However, the report further states that the US is currently offering only a temporary waiver mechanism, which will remain in effect until a comprehensive and final agreement is reached. Iran is insisting that removing all sanctions against the country should be part of America's commitments. According to Tasneem, the US has, however, proposed to waive OFAC (Office of Foreign Assets Control) sanctions until a final agreement is reached.
Earlier on Monday, Reuters reported that Iran has shared a revised proposal to end the Middle East conflict, which was delivered to the US through Pakistan. Islamabad recently hosted peace talks between Iran and the US, which ended without any results. Meanwhile, Iran on Monday said it has responded to a new US proposal to end the war. Meanwhile, Trump threatened that if there is no peace deal, "nothing will be left" of Iran, as the ongoing ceasefire between the two sides has become even more strained due to drone attacks on America's allies in the Gulf region. Trump wrote on his 'Truth Social' platform on Sunday, "For Iran, the clock is ticking, and they have to take action very quickly, very quickly, otherwise they will be left with nothing." He further wrote, “Time is very precious!”
If there is truth in this news released by Iranian media, then soon we may see a big fall in the prices of crude oil. If Iranian crude oil will be available in the international market, it means that the Strait of Hormuz will also open automatically. Due to which the supply of crude oil to the world will become much easier. If we talk about the present time, the crude oil of Gulf countries is trading at $ 109.53 per barrel with a slight increase of 0.25 percent. While American crude oil WTI is trading at $ 105.06 per barrel with a decline of 0.34 percent.
