#Iran Nuclear Talks: U.S. Says Deal Close as Tehran Ups Oil In Storage - Bloomberg

Iran Nuclear Talks: U.S. Says Deal Close as Tehran Ups Oil In Storage - Bloomberg

The U.S. said world powers were “close” to a deal with Iran as the Persian Gulf nation shifted more oil onto ships in anticipation of an agreement that lifts sanctions on its exports.

Iran could ramp up shipments to or even beyond 1 million barrels day within months of a deal, traders estimate, offering potential relief as Russia’s attack on Ukraine pushes oil over $100 a barrel.

All sides say negotiations in Vienna have made substantial progress toward a pact that restricts Iran’s nuclear program in return for a lifting of U.S. sanctions. But key sticking points have prevented Tehran and Washington from resolving their differences over how to revive the 2015 accord that the Trump administration later jettisoned.

Iran said its chief negotiator would return to Tehran for consultations as the talks reach a critical juncture. Iran’s Foreign Ministry said senior European envoys would also travel to their respective capitals for consultations. The State Department said an agreement could be days away if the remaining issues can be resolved.

“In Vienna, we believe that we can and should reach an understanding on a potential mutual return to compliance in short order, potentially within days,” State Department spokesman Ned Price told reporters on Wednesday, warning that any delays beyond that would put a return to the deal at “grave and profound risk.”