Key insights
- Iran expresses distrust towards the US, hindering negotiations. This geopolitical tension, particularly concerning maritime traffic in the Strait of Hormuz, introduces uncertainty into global oil supply, potentially leading to slight downward pressure on US equities due to increased energy costs and investor risk aversion.
Investing.com -- Iran’s Foreign Minister Abbas Araqchi said Friday that Tehran has "no trust" in the United States and will only engage in negotiations if Washington demonstrates serious intent.
Speaking to reporters in New Delhi during a visit for the BRICS foreign ministers’ meeting, Araqchi stated that Iran is working to maintain the current ceasefire to allow space for diplomatic efforts.
"We are interested in negotiation only if the other side is serious," Araqchi said, adding that "we have no trust on Americans."
The foreign minister noted that ongoing negotiations are hampered by a lack of trust between the parties.
Regarding maritime traffic, Araqchi said all vessels can pass through the Strait of Hormuz except those belonging to countries at war with Iran. He added that vessels wishing to transit the strait should coordinate with the Iranian navy.
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