Iran has agreed with the European Union to restart big-power talks to revive the 2015 nuclear deal before the end of November and a precise date for the negotiations will be announced in the next week.
Iran’s Deputy Foreign Minister Ali Bagheri Kani, who’s leading the country’s nuclear negotiations, revealed the agreement in a tweet after meeting top EU diplomat Enrique Mora in Brussels on Wednesday. He didn’t say where the talks would take place or who would attend. It’s unclear if the U.S., which is locked in a standoff with Tehran over how it should return to the ailing agreement, has agreed to the new timeline.
Oil extended declines on the news and benchmark Brent futures were down 1.6% as traders were given the first solid sign in months that Iran’s oil may return to global markets in the near future.