• Iran's official news agency IRNA reports that negotiations on a final nuclear agreement have not yet started.
  • The statement signals a pause or early stage in talks, contrary to speculation of progress toward a final text.
  • Stalled negotiations contribute to regional uncertainty, impacting energy markets and sanctions policy.

Talks Yet to Begin

Iran said negotiations on a final agreement have not begun, according to a report by the state-run Islamic Republic News Agency (IRNA) on Thursday. The statement suggests that diplomatic efforts remain at a preliminary stage, with no active drafting of a final accord, despite earlier hints of progress.

"Negotiations on a final agreement have not begun," IRNA quoted an unnamed official as saying, pushing back against reports that talks were advancing. The agency, which often reflects the Iranian government's stance, framed the current status as a reaffirmation of pre-negotiation conditions rather than a march toward a deal.

Fragile Prospects

The development comes as talks between Iran and world powers, including the United States and European negotiators, have repeatedly stalled. The broader JCPOA-era process has seen cycles of negotiation, partial compliance, and shifts in sanctions, with Vienna serving as the venue for previous rounds. France and other Western actors have reiterated support for a civil nuclear program in Iran while opposing weaponization, but gaps remain over verification mechanisms and sanctions relief.

"We are still far from a final agreement," said a European diplomat familiar with the talks, speaking on condition of anonymity. "Both sides need to show more flexibility." Attempts to reach the Iranian mission to the UN for comment were unsuccessful.

Market Implications

The lack of progress adds to regional uncertainty, affecting energy markets and investor risk assessments. Oil prices edged higher on the news, as traders weighed the potential for prolonged sanctions on Iranian crude exports. Without a deal, Iran's economy remains under pressure from U.S. sanctions, while global supply concerns persist.

What's Next

Short-term expectations remain cautious. Any forward motion will likely require clear, verifiable concessions and credible guarantees from all sides. Long-term, the probability of a durable agreement depends on resolving key points: sanctions relief versus nuclear commitments, verification intensity, and the scope of enrichment activities. Watch for official statements from Iran and Western negotiators on the timing and scope of any resumption of talks.

Correction: An earlier version of this article incorrectly stated that negotiations had begun; they have not.