The United States and Iran have begun their third round of nuclear negotiations. Washington is maintaining a hardline stance demanding "complete abandonment of nuclear weapons," while Tehran is countering with offers of large-scale oil and natural gas development rights as financial incentives.
With the stark gap between the two sides, attention is focused on what observers call the last diplomatic opportunity before military conflict. The U.S. has amassed its largest military presence in the Middle East since the 2003 Iraq invasion, applying comprehensive pressure on Iran.
On May 26 local time, the U.S. and Iran entered negotiations in Geneva, Switzerland, mediated by Oman. Iranian Foreign Minister Abbas Araghchi met with U.S. envoys Steve Witkoff and Jared Kushner at the negotiating table, with Omani Foreign Minister Badr al-Busaidi serving as mediator. "We are exchanging creative and positive ideas," al-Busaidi said. "We hope for more progress."
The Financial Times reported that Iran plans to offer large-scale oil and natural gas development rights to avoid military conflict with the U.S. and capture President Donald Trump's interest. A source familiar with the matter said, "Iran is leveraging President Trump's disposition. This deal has the potential to be an 'economic bonanza.'"
Iran's offer of development rights aims to demonstrate sincerity in negotiations while preemptively blocking U.S. military strikes. President Trump has deployed F-22 Raptor stealth fighters to the Middle East, assembling the largest military force since the Iraq invasion, and warned that "bad things will happen" if nuclear talks fail, signaling the possibility of military action.
Whether the U.S. will accept Iran's bargaining chip remains uncertain. Washington has consistently pressed Tehran to abandon nuclear weapons. Iran reportedly proposed diluting its estimated 400 kilograms of 60% enriched uranium down to 5%, but the U.S. is demanding complete dismantlement of the nuclear program.
The U.S. also insists that restrictions on Iran's ballistic missile program and cessation of support for pro-Iranian militant groups in the Middle East must be included in discussions. Iran maintains that talks should be limited to the nuclear program.
With the U.S. expected to reiterate its hardline position, concerns about war are rising. In response to President Trump's repeated mentions of limited military strikes, Iran warned that "even a small-scale attack would ignite an all-out war."
The Wall Street Journal reported that hardliners within the administration and Republican lawmakers pressured envoys Witkoff and Kushner "not to agree to any compromise that could be criticized as a lukewarm deal." The U.S. negotiating team is expected to make clear that Iran must dismantle its three major nuclear facilities and hand over all remaining enriched uranium to the United States.
Senator Lindsey Graham, a Trump ally, said, "We must never consider allowing Iran to enrich even minimal amounts of uranium just to save face." Secretary of State Marco Rubio stated, "Iran's refusal to discuss ballistic missiles is a very serious problem."
Saeid Golkar, an expert on Iran's military, said, "If these negotiations fail, the U.S. will resolve through military means what it cannot resolve through diplomacy."