U.S. and Iran Make ‘Good Progress’ in Geneva Talks, Foreign Minister Says

 

U.S. and Iran Make ‘Good Progress’ in Geneva Talks, Foreign Minister Says

Iranian Foreign Minister Abbas Araghchi announced on February 17, 2026, that Iran and the United States have reached an understanding on the main "guiding principles" for a potential new nuclear agreement. Following three hours of indirect talks in Geneva, both sides described the progress as "constructive," though they cautioned that a final deal is not yet imminent.

Key Outcomes of the Geneva Talks

Agreement on Principles: Both nations agreed on a set of broad guiding principles that will serve as the foundation for drafting the actual text of an agreement.

Drafting Phase: The next stage involves both sides working on specific drafts of a potential deal to be exchanged before the next round of negotiations.

Deadline for Proposals: U.S. officials indicated they expect to receive detailed proposals from Tehran within the next two weeks to address remaining gaps.

Mediated Format: The indirect talks were mediated by Oman's Foreign Minister, Badr Albusaidi, and included U.S. representatives Jared Kushner and Steve Witkoff.

Ongoing Challenges and Context

Diverging Scopes: The U.S. is pushing to include Iran's ballistic missile program and regional militia support in the deal, while Iran maintains that negotiations must be strictly limited to its nuclear program.

Enrichment Red Lines: Iran has signaled flexibility on diluting some uranium stockpiles but continues to reject a permanent ban on domestic enrichment.

Military Pressure: The talks occurred amidst a significant U.S. military buildup in the Middle East, including the deployment of a second aircraft carrier. President Trump warned of "very traumatic" consequences if a deal is not reached quickly.

Market Impact: Following the "good progress" report, oil futures fell as the perceived risk of immediate regional conflict eased.