US and Iran downplay hopes of imminent deal in war

US President Donald Trump warned that any peace agreement with Iran will either be a meaningful breakthrough or fail entirely, following Iran’s statement that a 'degree of understanding' has been reached on key issues. Iranian officials clarified that no deal is imminent, with talks centered on a memorandum of understanding (MoU) outlining a roadmap for resolution. US Secretary of State Marco Rubio described the negotiations as a 'work in progress,' while Iran’s chief negotiator Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi arrived in Qatar for further discussions. Iran’s delegation in Qatar includes Central Bank Governor Abdolnaser Hemmati, with negotiations focusing on the Strait of Hormuz and highly enriched uranium. The MoU under discussion also addresses Iran’s frozen funds, a critical issue for any final agreement. Qatar, a key US ally, is facilitating talks amid ongoing tensions, including Iran’s retaliation against US-Israeli strikes in the region. Meanwhile, Iran’s Foreign Minister Abbas Araghchi canceled his planned attendance at a UN Security Council meeting in New York due to 'visa-related issues,' citing 'overall circumstances' as the reason. The US State Department declined to comment on specific visa cases, stating that applications are adjudicated individually. The UN meeting, initiated by China, aims to discuss international peace and security amid escalating regional conflicts. Israel remains concerned about potential US-Iran agreements limiting its operations against Hezbollah in Lebanon. Israeli airstrikes, drones, and artillery operations in southern Lebanon on Monday killed three people in vehicle attacks near the border. The ongoing clashes highlight the complex geopolitical dynamics as the US and Iran seek a diplomatic resolution. The path to ending the war and reopening the Strait of Hormuz—if a deal is reached—will involve a lengthy process to stabilize global energy markets and reduce prices. Analysts warn that even if an agreement is finalized, economic and security challenges will persist, requiring sustained diplomatic efforts.