Iran may dangle ‘commercial bonanza’ to woo Trump – FT

Tehran is reportedly weighing oil, gas, and mining incentives as part of nuclear talks to avert escalation

Iran is weighing economic incentives to entice US President Donald Trump as nuclear negotiations with Washington continue, the Financial Times has reported.

Talks in Geneva on Thursday mark a third round of indirect US-Iran contacts using Omani mediation, at a time when Washington is simultaneously amassing military assets in the Middle East to increase pressure on Tehran.

People familiar with the matter told the FT on Thursday that Tehran is considering pitching a potential “commercial bonanza” to Washington – involving oil, gas, and mining projects – but has not yet made any formal offer. A senior US official told the outlet that no such proposals had been discussed.

“[Iran is] looking at Venezuela as a case study,” one source said, referring to Trump’s push for US companies to secure oil deals in the Latin American country after US forces kidnapped President Nicolas Maduro last month.

In his State of the Union address on Tuesday, Trump accused Tehran of “sinister” nuclear ambitions and warned that it has limited time to reach a deal, adding that he prefers a diplomatic solution.

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Iran insists its program is civilian and that it will continue uranium enrichment, even though its nuclear facilities were damaged during last year’s 12-day war, when the US and Israel hit sites across the country.

Iranian officials are reportedly also discussing enhanced verification mechanisms involving the International Atomic Energy Agency and a possible role for US-linked experts.

Iran held the world’s third-largest proven oil reserves and second-largest gas reserves in 2023, according to US data, and shares the world’s largest natural gas field with Qatar. The country briefly reopened to Western investment after the 2015 nuclear deal, but Trump withdrew the US from the accord in 2018 and reimposed sweeping sanctions.