Iranian president Ebrahim Raisi at a news conference
Economic realities may force Iran to the table
Hardline rhetoric and positions apparently further apart than ever may obscure appetite for a deal
Iran and the P5+1—the US, the UK, France, China, Russia and Germany—remain no closer to a nuclear deal after six rounds of talks. It is difficult not to feel that previous cautious optimism may be ebbing away as we enter a seventh round. The key question, though, may be whether Iran can afford not to reach an agreement. The election of Ebrahim Raisi, mooted as a potential successor to the ailing 82-year-old supreme leader Ayatollah Ali Khamenei, has ushered in a new period in Iranian politics. Unsurprisingly, the alignment of conservative centres of power in Tehran has irked diplomats in Washington. Tit-for-tat tanker attacks in the Mid-East Gulf in recent weeks have also escalated—bringing
Also in this section
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
