Uzbekistan faces $1.5 billion hit if Middle East tensions disrupt Iran trade route
Uzbekistan could lose up to $1.5 billion if escalating Middle East tensions disrupt vital trade and logistics routes through Iran, putting pressure...
A third round of indirect nuclear negotiations between Iran and the U.S. concluded in Geneva on Thursday, with Omani mediators reporting “significant progress” but no final agreement.
Oman’s Foreign Minister Badr Albusaidi, who acted as mediator, said both sides had shown “openness to new and creative ideas” and would return to their capitals for consultations before resuming talks. Technical-level discussions are set to take place next week in Vienna.
Iran’s delegation was led by Foreign Minister Abbas Araghchi, who described the negotiations as “good” and among the most serious and longest rounds so far. He said agreement had been reached on some issues, while differences remained on others, adding that the next round would take place in less than a week.
The U.S. delegation was headed by U.S. Special Envoy to the Middle East Steve Witkoff and included Jared Kushner, Senior Adviser to U.S. President Donald Trump. There was no immediate formal reaction from Washington following the conclusion of the talks.
The discussions centred on sanctions relief and nuclear-related commitments, particularly Iran’s uranium enrichment programme and its stockpile of highly enriched uranium.
According to Iranian state media, Tehran reiterated its right to peaceful nuclear energy and rejected U.S. demands to fully halt enrichment on Iranian soil or transfer its stockpile, estimated at around 400 kilogrammes, out of the country. Reports suggested one option under discussion could involve a temporary suspension of enrichment for three to five years under international monitoring, after which limited enrichment at minimal levels might resume. No proposal has been formally confirmed by either side.
In return, Araghchi said Iran was seeking the lifting of sanctions that have severely strained its economy.
The head of the International Atomic Energy Agency, Rafael Grossi, also took part in the Geneva meetings. Any potential agreement would require monitoring and verification by the UN nuclear watchdog. The agency’s board is due to convene in early March.
The indirect talks were held in two sessions in Geneva after diplomatic efforts resumed last month, including earlier rounds in Muscat. Despite a constructive tone, neither side confirmed a breakthrough on core disputes such as enrichment limits and inspection guarantees.
U.S. President Donald Trump has previously warned that without a “meaningful deal” within a 10 to 15-day timeframe, Washington would consider other options, including military action. The U.S. has reinforced its military presence in the region in recent weeks.
For decades, Washington and Israel have accused Iran of seeking to develop nuclear weapons, an allegation Tehran denies, maintaining that its programme is solely for peaceful purposes. Iran remains the only non-nuclear-armed state enriching uranium to near weapons-grade levels.
At least 11 people were killed in Israeli strikes on southern Lebanon on Saturday, among the deadliest since a June ceasefire. Meanwhile, Qatar denied holding Iranian pilots. It said it had found the remains of one pilot after an airspace violation and had contacted Iran to coordinate a handover.
U.S. President Donald Trump says Washington is not seeking an extension of its memorandum of understanding with Iran, claiming the U.S. already controls the Strait of Hormuz through its naval blockade.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
South Korea's presidential Blue House said on Monday it was reviewing U.S. President Donald Trump's comments on scaling back joint military drills. It added that it hoped a favourable relationship between Washington and Pyongyang could lead to meaningful talks.
Ukraine has targeted at least 20 Wildberries warehouses across Russia since 18 July, disrupting a major logistics network. Kyiv says the strikes aim to disrupt alleged military-linked supplies, while the attacks have caused billions of dollars in losses and wider economic pressure.
Britain will continue to support Ukraine “100 per cent” against Russia’s invasion, Prime Minister Andy Burnham said on Tuesday, after Moscow warned London of consequences over reports that British-made drones had been used in strikes on Russian territory.
Russia has summoned Japan’s ambassador to Moscow and delivered a strong protest over what it called “anti-Russian” remarks by Japanese Prime Minister Sanae Takaichi and Foreign Minister Toshimitsu Motegi concerning four disputed islands.
Pakistan is turning to more U.S. crude as disruption around the Strait of Hormuz exposes the risks of its heavy reliance on Gulf energy supplies.
U.S. Forces Korea (USFK) Commander Xavier Brunson visited South Korea's Defence Ministry on Tuesday to discuss plans to scale back the joint Ulchi Freedom Shield military exercise, according to media reports.
European countries are stepping up investment in drones and counter-drone technology as unmanned systems reshape modern warfare, driving demand for new production and capabilities across the continent.
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