live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
U.S. envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi are expected to meet in Istanbul on Friday for renewed discussions on Iran’s nuclear programme, according to reporting by Axios.
Sources said preparations are underway, though the timing and format have not been finalised.
The potential meeting comes as the U.S. increases its military presence in the Gulf, with President Donald Trump warning Iran to return to talks while insisting that diplomacy remains possible. He said last week that Tehran was “seriously talking” after his announcement that a large naval deployment was heading towards the region.
Regional mediation has intensified in recent days, with Türkiye, Qatar and Egypt facilitating indirect contacts between Washington and Tehran. Araghchi travelled to Istanbul on Friday for meetings with President Recep Tayyip Erdoğan and Foreign Minister Hakan Fidan, although no official readout was issued.
Witkoff is expected to travel to Israel this week for consultations with Prime Minister Benjamin Netanyahu and IDF Chief of Staff Lt Gen Eyal Zamir, before heading to Abu Dhabi for Russia-Ukraine talks and then to Türkiye.
Iran has warned that any U.S. strike would provoke a rapid response, while Washington says diplomacy is still viable if Tehran engages constructively.
At this stage, no agenda or timeframe has been confirmed by either side.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
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Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
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Central Asia is moving beyond experiments with digital assets as governments begin putting new forms of digital money into practice.
Parents in Gaza are being urged to stop their children flying kites after Israel threatened tougher military action over those drifting across the border.
Armenia is “free” to leave the Collective Security Treaty Organisation (CSTO), Kremlin Spokesperson Dmitry Peskov has said. He made the remarks after Armenian Prime Minister Nikol Pashinyan said he would be “very pleased” if the Russian-led military alliance expelled Armenia.
Armenia’s Anti-Corruption Committee has disclosed details of a criminal case involving former President Robert Kocharyan, saying he and five other people - including his son - have been detained as part of a corruption investigation.
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