The United States will engage in "technical talks" with Iran while seeking a resolution to ongoing conflicts, despite recent airstrikes exchanged between the two nations, according to a U.S. official cited by MS Now. The official stated that President Donald Trump has labeled Iran's attacks on commercial vessels as "acts of terrorism." Trump declared at the NATO summit in Ankara, Turkey, that the ceasefire with Iran was "over."
The official noted that the memorandum of understanding between the U.S. and Iran is performance-based, indicating that Iran's actions represent "failed performance at an unacceptable level." Despite this, discussions with Tehran will persist.
Tensions have escalated following strikes conducted by both U.S. and Iranian forces this week. Trump expressed reluctance to negotiate further with Iran, stating, "I don't want to deal with them anymore." On his return from the summit, he mentioned that Iran had reached out to negotiate a deal to halt the escalating hostilities, but he expressed skepticism about Iran's commitment to honoring any agreement.
Iranian officials have accused the U.S. of violating the memorandum of understanding, citing issues such as adjustments in the Strait of Hormuz, ongoing threats of further strikes, and the reinstatement of oil sanctions. In response to attacks on three commercial vessels in the Strait of Hormuz, the U.S. military conducted renewed offensive strikes against Iran and the U.S. Treasury Department revoked a waiver that previously allowed Iran to sell oil.
Oil prices saw a slight decline on Friday, with Brent crude futures for September delivery at $76.30 per barrel and U.S. West Texas Intermediate crude futures at $71.87.