U.S. Says Talks With Iran Underway While Tehran Denies Direct Negotiations

Overview

• The White House said President Trump suspended a planned large-scale attack and that negotiations with Iran would begin Monday as part of an effort to reopen the Strait of Hormuz and address Iran’s nuclear program.
• Iran’s foreign ministry publicly denied any direct talks with Washington and said its current discussions are only with Oman about routing and managing ship traffic through the Strait of Hormuz.
• Oil prices fell sharply on the prospect of diplomacy, with market reports citing declines in the range of about 5 to 7 percent as traders priced in a lower risk of a wider disruption to shipments.
• Mr. Trump repeatedly framed the pause as conditional, issuing a ‘last chance’ ultimatum to Iran and repeating a pattern of threatening major strikes then citing diplomacy to delay action.
• Control of the Hormuz shipping lane remains the central leverage point, regional mediators have pressed for talks, and analysts say the contradictory public accounts leave the military standoff and shipping risks unresolved.