DUBAI (Multibagger) - Iran Foreign Minister Abbas Araqchi announced readiness to commence nuclear negotiations during the United Nations General Assembly in New York, pending willingness from other parties. Talks to revive the 2015 nuclear accord between Iran and six world powers, from which the United States withdrew in 2018, have hit a stalemate. Despite still being part of the agreement, Iran has scaled back its commitments due to U.S. sanctions.
Araqchi stated, "I will stay in New York for a few extra days to engage in more meetings with foreign ministers. Our focus will be on initiating new discussions about the nuclear pact." He highlighted that while messages have been exchanged and a general declaration of readiness issued, current international conditions have made the resumption of talks more complex.
Iran is seeking relief from the crippling U.S. sanctions that have severely impacted its economy. However, tensions with the West have heightened following an attack by the Iranian-backed Hamas militant group in southern Israel and increased support for Russia in the Ukraine conflict.
The Biden administration has indicated that the U.S. is not prepared to reinitiate nuclear negotiations with Iran at this time.
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**Analysis:**
Iran's Foreign Minister Abbas Araqchi has expressed willingness to engage in nuclear negotiations during the United Nations General Assembly in New York, contingent upon cooperation from other parties. The discussions aim to revive the 2015 nuclear accord that the U.S. exited in 2018, leading to a deadlock in indirect talks. Despite Iran's continued participation in the agreement, it has reduced its commitments due to U.S. sanctions.
The current international landscape presents challenges for resuming talks, with Iran hoping for a reduction in sanctions that have severely impacted its economy. Tensions have escalated with the West following recent events, including an attack by an Iranian-backed group in Israel and increased support for Russia in the Ukraine conflict. The Biden administration has stated that the U.S. is not prepared to resume nuclear negotiations with Iran at this juncture.
This update highlights the ongoing geopolitical dynamics and their potential implications for global relations and economic stability. Investors and individuals monitoring international affairs should stay informed about developments in the nuclear negotiations between Iran and other world powers, as they could have significant ramifications for the global economy and financial markets.