US Secretary of State Marco Rubio on May 25 declared that Washington would reach a good agreement with Iran or would deal with the issue "differently", in the context of the White House reducing expectations of a breakthrough soon in the 3-month conflict.
Speaking to reporters in New Delhi (India), Mr. Rubio said that the US will give every opportunity to diplomacy before considering alternative options. This statement was made after President Donald Trump said that he had asked US representatives not to rush to reach an agreement with Tehran.
According to Mr. Rubio, there is currently "a fairly solid proposal" regarding the possibility of reopening the Strait of Hormuz and starting substantive, time-limited negotiations on the nuclear issue. He expressed hope that the two sides can achieve positive results.
A day earlier, Mr. Trump wrote on the social network Truth Social that the US blockade of Iranian ships in the Strait of Hormuz would continue to be fully maintained until an agreement is completed, confirmed and signed. He emphasized that both sides need enough time to make the right decision.
The Iranian government has not immediately responded to statements from the US. However, Tasnim news agency said that Washington is still hindering some parts of the potential agreement, including Tehran's request to release frozen money abroad.
The oil market reacted positively to the prospect of dialogue as oil prices fell 6%, to a two-week low. Investors expect the US and Iran to move closer to a peace agreement.
Mr. Trump once raised expectations for a breakthrough when he said Washington and Tehran had "basically completed negotiations" on a memorandum of understanding towards a peace agreement, which includes reopening the Strait of Hormuz.
Before the conflict broke out, the Strait of Hormuz was a transportation route for about 20% of global oil and liquefied natural gas. The disruption of circulation in this region has exacerbated the international energy crisis, leading to a sharp increase in fuel, fertilizer and food costs.
However, many key disagreements have not been resolved. Controversial issues include Iran's nuclear ambitions, Israel's war in Lebanon against Tehran-backed Hezbollah forces, the request to lift sanctions as well as the release of tens of billions of USD of Iran's oil revenue that is frozen at foreign banks.
Washington is said to want to prioritize reopening the Strait of Hormuz and lifting the blockade first, then continuing detailed negotiations on measures related to Iran's nuclear program.
