Commodities November 2, 2026 10:18 AM

Tehran Says Mediated Talks with Washington Continue as Draft Proposal Circulates

Iranian officials report condensed plan remains on the table even as negotiators depart Doha; China and Russia urge diplomacy amid energy supply fears

By Hana Yamamoto
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Iranian officials say indirect negotiations with the United States remain active after several days of talks mediated by Qatar concluded without a breakthrough. Tehran says it has submitted a shortened version of a seven-step proposal that could be implemented quickly, while Iranian sources still judge a fresh U.S. attack more likely than a deal. China and Russia have urged a political solution as the conflict continues to weigh on global energy and shipping security.

Tehran Says Mediated Talks with Washington Continue as Draft Proposal Circulates
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Key Points

  • Indirect talks between Iran and the United States continue via mediators after days of discussions in Doha produced revised proposals but no agreement; a draft proposal is being circulated.
  • Iran says its original seven-step plan remains central but has been condensed to allow implementation within two days; the plan would require the U.S. to lift its blockade of Iranian ports, Iran to reopen the Strait of Hormuz, a U.S. waiver on Iranian oil sales, and the cancellation of new sanctions before further talks.
  • China and Russia urged a political solution and called for increased diplomatic efforts as the conflict has affected global energy and shipping security, including a recent strike on a Qatari LNG tanker.

DUBAI, Nov 2 - Iranian authorities reported on Monday that consultations with the United States, conducted through mediators, are ongoing following days of meetings in Doha that produced revised proposals but no definitive agreement.

Intensive mediated contacts

Iranian Foreign Minister Abbas Araqchi said mediators have been engaged in "very intensive" consultations and that Tehran has set out its conditions and proposals, with the outcome hinging on what he described as the "political rationality of Washington," according to comments carried by state media outlet IRNA.

While the mediated talks in Qatar produced altered proposals, officials said no breakthrough was reached. An official briefed on the exchanges added that Iran's negotiators departed Doha on Sunday, not because of any breakdown in talks, and that a draft proposal was being circulated, without providing further detail.

Core of Iran's proposal and Washington's prior response

Iran's Foreign Ministry spokesperson Esmaeil Baghaei said the plan Tehran first submitted in September remains the centerpiece of the discussions, though it has been condensed. Baghaei confirmed comments attributed to Araqchi that the proposal might be shortened and that the revised version could be implemented rapidly.

"The basis of dialogue and talks between Iran and the US via mediators is still Iran's seven-step proposal, which is now condensed, making it possible to implement it within two days," Baghaei said.

Baghaei reiterated that shortening the text would not alter Iran's fundamental position: any resumption of discussions related to its nuclear programme could only occur after Tehran had verified that its conditions were fully met. When asked whether the idea of transferring Iran's highly enriched uranium stockpile to another country had been raised or agreed to, Baghaei replied no.

The initial seven-step plan, previously presented by Tehran, would require the United States to end its blockade on Iranian ports, prompt Iran to reopen the Strait of Hormuz waterway, secure a U.S. waiver allowing Iranian oil sales, cancel new sanctions on Iran, and then proceed to talks on other outstanding matters. U.S. President Donald Trump rejected the seven-step proposal in September.

Market reaction and risk perceptions

Oil prices reacted to the prospect of progress in mediation, falling nearly 4% on Monday on hopes that diplomatic moves could defuse immediate supply risks. Despite that price move, Iranian sources told officials they still judged a new U.S. attack to be more likely than a negotiated settlement.

Separately, Iran has warned it would respond aggressively to any renewed military action, with plans to strike targets both inside and outside the Middle East.

Regional and international responses

Concerns about renewed conflict have prompted public calls for diplomacy from major international actors. China and Russia both spoke out against the possibility of further military action on Monday, citing the adverse effects on regional stability and global economic flows.

China's Foreign Minister Wang Yi, after meeting senior Iranian security official Ali Bagheri Kani in Beijing, urged that parties concentrate on political solutions rather than returning to armed conflict. Beijing has been active diplomatically this week, hosting Oman’s Sultan Haitham bin Tariq al-Said, whose country borders the southern side of the Strait of Hormuz.

China's foreign ministry also reported that Wang met with Saudi Arabia's national security advisor Musaed bin Mohammed al-Aiban, noting that all sides should work to safeguard regional energy and shipping lane security.

In Moscow, the Russian Foreign Ministry described reports of possible new military action against Iran as a cause for extreme concern and called for stepped-up diplomatic efforts. Russian President Vladimir Putin spoke by phone on Monday with Iran's top security official Mohsen Rezaei, Iranian state media reported.

Conflict impacts on maritime and energy security

The ongoing war, which the article reports began with a sudden action on February 28, has had several operational consequences: Iran has closed the strategic Strait of Hormuz at times; the United States has imposed a blockade on Iranian ports; Iran has launched repeated drone and missile strikes on Gulf states; and the conflict has contributed to renewed hostilities in Yemen.

Underscoring the risks to energy and shipping, a Qatari liquefied natural gas (LNG) tanker was struck in the Gulf by unidentified objects on Friday, the vessel's operator Nakilat said on Sunday. While attacks on oil tankers have been common during the conflict, incidents involving LNG carriers have been rare, with the last reported strike on a Qatari tanker occurring in early July.


Contacts between Tehran and Washington continue through mediators, with a condensed version of Iran's seven-step plan now under discussion even as negotiators leave Doha and international actors press for diplomatic solutions amid ongoing threats to regional energy and shipping security.

Risks

  • Renewed military action - Iranian sources believe a new U.S. attack is more likely than a deal, posing immediate risks to oil and gas markets and maritime shipping.
  • Energy and shipping disruptions - closure of the Strait of Hormuz, blockades, and attacks on tankers have already strained regional energy flows and could further disrupt global supply chains.
  • Diplomatic uncertainty - while a condensed proposal is circulating, the lack of a breakthrough and differing positions on verification and nuclear programme talks leave outcomes uncertain for commodity markets and regional stability.

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