Iran Makes 'Substantial' Nuclear Offer In Return For US Lifting Sanctions – Guardian

• Plan would allow enhanced, permanent nuclear inspections.
• Foreign minister: ‘It’s not about photo ops. We want substance’.

The Guardian has reported that Iran has offered a deal with the US in which it would formally and permanently accept enhanced inspections of its nuclear programme, in return for the permanent lifting of US sanctions.

The offer was made by the Iranian foreign minister, Mohammad Javad Zarif, on a visit to New York. But it is unlikely to be warmly received by the Trump administration, which is currently demanding Iran make a range of sweeping concessions, including cessation of uranium enrichment and support for proxies and allies in the region.

Zarif insisted, however, that his offer was “a substantial move”.

Headlines such as these offer positive implications for a resolution to the standoff between the U.S. and Iran and will likely weigh on the price of oil as speculative and temporary long postions get squeezed out of the market. For FX, long positions in safe havens such as CHF and JPY will be squeezed as well.