Iran
insists the US must first meet its seven key conditions—including lifting oil
sanctions, ending the naval blockade, halting regional hostilities, and
respecting sovereignty before any progress.
US Vice President JD Vance's letter to Iran's
security chief was rejected as insufficient, with Tehran demanding full
implementation at once rather than in stages.
Oil prices have surged past $112 per barrel amid fears over Strait of Hormuz supply routes, while both sides weigh escalation risks through ongoing diplomacy.