Iran says to submit own nuclear proposal to US soon
TEHRAN: Iran said Monday it will soon present a counter-proposal on a nuclear deal with the United States, after it had described Washington's offer as containing 'ambiguities'.
Tehran and Washington have held five rounds of talks since April to thrash out a new nuclear accord to replace the deal with major powers that US President Donald Trump abandoned during his first term in 2018.
The longtime foes have been locked in a diplomatic standoff over Iran's uranium enrichment, with Tehran defending it as a 'non-negotiable' right and Washington describing it as a 'red line'.
On May 31, after the fifth round talks, Iran said it had received 'elements' of a US proposal, with Foreign Minister Abbas Araghchi saying later the text contained 'ambiguities'.
Foreign Ministry spokesman Esmaeil Baqaei criticised the US proposal as 'lacking elements' reflective of the previous rounds of negotiations, without providing further details.
'We will soon submit our own proposed plan to the other side through (mediator) Oman once it is finalised,' Baqaei told a weekly press briefing.
'It is a proposal that is reasonable, logical, and balanced, and we strongly recommend that the American side value this opportunity.'
Iran's parliament speaker has said the US proposal failed to include the lifting of sanctions – a key demand for Tehran, which has been reeling under their weight for years.
'Strategic mistake'
Trump, who has revived his 'maximum pressure' campaign of sanctions on Iran since taking office in January, has repeatedly said it will not be allowed any uranium enrichment under a potential deal.
On Wednesday, Iran's supreme leader Ayatollah Ali Khamenei said the US offer was '100 percent against' notions of independence and self-reliance.
He insisted that uranium enrichment was 'key' to Iran's nuclear programme and that the US 'cannot have a say' on the issue.
Iran says US travel ban shows 'deep hostility' for Iranians, Muslims
Iran currently enriches uranium to 60 percent, far above the 3.67-percent limit set in the 2015 deal and close though still short of the 90 percent needed for a nuclear warhead.
Western countries, including the United States, have long accused Iran of seeking to acquire atomic weapons, while Iran insists its nuclear programme is for peaceful purposes.
The United Nations nuclear watchdog will convene a Board of Governors meeting from June 9-13 in Vienna to discuss Iran's nuclear activities.
The meeting comes after the International Atomic Energy Agency released a report criticising 'less than satisfactory' cooperation from Tehran, particularly in explaining past cases of nuclear material found at undeclared sites.
Iran has criticised the IAEA report as unbalanced, saying it relied on 'forged documents' provided by its arch foe Israel.
Britain, France and Germany, the three European countries who were party to the 2015 deal, are currently weighing whether to trigger the sanctions 'snapback' mechanism in the accord.
The mechanism would reinstate UN sanctions in response to Iranian non-compliance – an option that expires in October.
On Friday, Araghchi warned European powers against backing a draft resolution at the IAEA accusing Tehran of non-compliance, calling it a 'strategic mistake'.
Iran says it obtained sensitive Israeli nuclear documents
On Monday, Baqaei said Iran has 'prepared and formulated a series of steps and measures' if the resolution passed.
'Without a doubt, the response to confrontation will not be more cooperation,' he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
44 minutes ago
- Business Recorder
India and US advance toward interim trade deal after four-day talks
NEW DELHI: Indian and U.S. negotiators made progress in their latest round of talks in New Delhi on Tuesday on a bilateral trade deal, having focused on market access for industrial and some agricultural goods, tariff cuts and non-tariff barriers, Indian government sources said. 'The negotiations held with the U.S. side were productive and helped in making progress towards crafting a mutually beneficial and balanced agreement including through achievement of early wins,' one of the sources said. The U.S. delegation, led by senior officials from the Office of the U.S. Trade Representative, held closed-door negotiationswith Indian trade ministry officials headed by chief negotiator Rajesh Agrawal. Both sides discussed increasing bilateral digital trade, by improving customs and trade facilitation measures, the sources said, adding that 'negotiations will continue' for early conclusion of the initial tranche of the trade pact. U.S. President Donald Trump and Indian Prime Minister Narendra Modi had agreed in February to conclude a bilateral trade agreement by fall 2025 and to more than double bilateral trade to $500 billion by 2030. India, US push to finalise interim tariff deal as Trump's deadline nears The two sides are expected to sign an interim agreement by the end of the month, before the expiry of Trump's 90-day pause on reciprocal tariffs on major trading partners, including a 26% tariff on India. Commerce Minister Piyush Goyal, currently in Switzerland for talks with European trade partners, said India is prepared to proceed with the deal by first addressing simpler issues. The next phase of negotiations could tackle more complex matters, with the goal of signing the first tranche of the bilateral trade pact by September or October, the officials added. India resisted U.S. demands to open its markets to wheat, dairy and corn imports, while offering lower tariffs on high-value U.S. products such as almonds, pistachios and walnuts, one of the sources said. India also asked the U.S to revoke its 10% baseline tariff. However, the U.S. side opposed this, noting that even Britain was subject to this under its recent bilateral trade agreement. Trump says US doing 'big deals' with Pakistan, India Additionally, India sought an exemption for its steel exports from a 50% tariff. A potential 26% tariff on India would be devastating to Indian goods - including rice, shrimp, textiles and footwear, which together comprise nearly one-fifth of India's merchandise exports - and could severely hit exports and dampen foreign investment inflows. India has pledged to increase purchases of American goods, including energy products like liquefied natural gas, crude oil, coal and defence equipment. India's exports to the U.S. rose 28% to $37.7 billion in the first four months of 2025, while imports increased to $14.4 billion, widening India's trade surplus, according to U.S. government data.
Express Tribune
an hour ago
- Express Tribune
Pakistan's economic growth on track: PM Shehbaz
Listen to article Prime Minister Shehbaz Sharif, while chairing a federal cabinet meeting on Tuesday in Islamabad, expressed satisfaction on economic indicators while maintaining that the country has now reached a take-off position. "After defeating India in a conventional war, we now need to surpass it in the economic field as well. The entire nation is united, and such opportunities arise only once in a century." he said. While discussing the budget for the next fiscal year, PM Shehbaz said that the government and the people have faced severe challenges over the past year and a half. He lauded the salaried class for playing a vital role in economic stability, urging the wealthy and influential classes to also play their part. He said the common man and the salaried class have played a vital role in economic stability, and the salaried class has borne a significant burden in the previous budget, contributing Rs400 billion to the national treasury. Due to the sacrifices, hard work, and efforts of the salaried class, Pakistan has reached a position where it is ready for take-off, he added, questioning the wealthy and influential sections of society about their contribution to the country. He further said that positive indicators of economic stability have emerged, with a decrease in inflation rate and policy rate, an increase in exports, and a significant increase in foreign exchange reserves and IT exports. It is time to focus on economic growth in the current budget, he added. The PM said that Pakistan defeated an enemy that claimed it was incomparable to Pakistan in a conventional war, and now we will also defeat India in the economic field. With determination and hard work, nothing is impossible, and everyone needs to work together day and night to move forward. "All institutions have played a role in economic successes, and now is the time for us to move forward together. The entire nation is united, and such opportunities arise only once in a century. We should not waste this moment but utilise it. India is talking about using water as a weapon after its defeat in war, but we will take every single drop of water that belongs to Pakistan, and we will not tolerate any disruption. India has no right to stop our share of water, and it cannot do so," he added. "We have discussed the situation with all four provinces, and we will be successful on this front as well," he said, while appreciating the hard work of all ministries, especially finance, regarding the budget. PM Shehbaz also condemned the ongoing atrocities in Palestine and Kashmir, saying that the brutality in Palestine is the worst form of oppression in the present era, and the international community should play a role in achieving an immediate ceasefire in Gaza. He lamented that innocent children, girls, and Muslims are being killed, and such atrocities have not been witnessed ever before. He added that the people of Kashmir and Palestine will definitely achieve freedom. The PM reiterated Pakistan's full support for the Palestinian and Kashmiri brothers and sisters, saying that the people of Pakistan stand and will continue to stand with them.
Business Recorder
2 hours ago
- Business Recorder
Blackstone to invest $500 billion in Europe over next decade
Blackstone plans to invest up to $500 billion in Europe over the next decade, CEO Steve Schwarzman told Bloomberg Television in an interview on Tuesday, underscoring market confidence in the region's prospects. Schwarzman said Europe represents a 'major opportunity' for the world's largest alternative asset manager, which oversees assets worth over $1 trillion. There has been a surge in investor optimism about the region, driven by European governments' push to increase military spending and revive a sluggish private equity market. With U.S. President Donald Trump reshaping global alliances and trade policies, Europe is actively pursuing new avenues for economic growth, potentially creating promising investment opportunities for firms such as Blackstone. The European Union, for example, is ramping up its defense spending to revitalize a sector historically overlooked by private investors. Since 2020, the U.S. and Canada have attracted 83% of all private equity and venture capital-backed aerospace and defense investment, according to S&P. Europe is starting to change its approach, 'which we think will result in higher growth rates. So this has worked out amazingly well for us,' Schwarzman told Bloomberg. Schwarzman supported Trump in the U.S. presidential election last year, according to a report from Axios. He has long been viewed as an ally of the president. Trump's whiplash tariffs have, however, prompted several businesses to optimize their supply chains to reduce U.S. exposure. 'The U.S. administration's tariffs - combined with any retaliatory measures from its trading partners - will deliver a supply shock to the U.S. and a demand shock to the rest of the world, including China and Europe,' said Blerina Uruçi, chief U.S. economist at T. Rowe Price.
