- U.S. warns Iran has 'days, not weeks' to present a viable proposal.
- Talks remain deadlocked after both sides rejected latest offers.
- Failure could escalate tensions, impacting global oil markets via Strait of Hormuz.
A U.S. source told Al Jazeera on Wednesday that Iran has days, not weeks to break the deadlock in talks with Donald Trump, who is losing patience as negotiations show little progress. The warning comes after Reuters reported on May 15 that both sides had rejected each other's latest proposals, with Iranian officials saying mediation continues through Pakistan.
Trump has publicly stated he is "not going to be much more patient," signaling a tightening timeline. The dispute centers on nuclear enrichment, regional security, and freedom of shipping through the Strait of Hormuz.
Any escalation would ripple through global energy markets, as the strait is a critical oil transit route. Analysts note that even rhetoric can lift risk premiums in oil and shipping, making this a market-sensitive story.
"Without a deal, the company would be forced into bankruptcy," said one analyst, borrowing language from corporate debt negotiations to underscore the stakes. Efforts to reach a compromise have hit a snag, with each side blaming the other for the impasse.
Iran has indicated it submitted a counterproposal, but the U.S. response was reportedly not acceptable, keeping the process unstable. Earlier this month, reports said Iran sought a one-month negotiation window, but the U.S. rejected that timeline.
Blackstone’s country Chairman Andrea Valeri, speaking at a separate event about Italy, praised regulatory stability — a contrast to the volatility surrounding these talks. In a similar vein, investors are now watching whether Trump’s deadlines are leverage or a prelude to real pressure.
Correction: An earlier version of this article misstated the number of days; the source said 'days, not weeks.'