Iranian delegation returns from talks in Qatar, state media says

Iranian authorities returned to the country this Tuesday (26) after meetings with mediators in the Qatari capital, Doha, as negotiations between Tehran and Washington continue to progress slowly.

The delegation - made up of the speaker of the Iranian Parliament, Mohammad Bagher Ghalibaf, the minister of Foreign Affairs, Abbas Araghchi, and the president of the Central Bank of Iran, Abdolnaser Hemmati - "returned to the country a few hours ago", according to the state-run Islamic Republic of Iran Broadcasting agency.

Representatives from Qatar and Iran discussed mainly Iran's frozen funds, the semi-official Fars agency also reported on Tuesday.

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Harsh US sanctions and conflict have worsened Iran's economic crisis, with Tehran advocating the immediate release of billions of dollars in assets held in banks abroad.

If Tehran and Washington reach an agreement on the proposal under discussion, Iranian assets worth US$24 billion could be released, the semi-official Tasnim agency reported.

However, a senior US government official told CNN over the weekend that the unlocking of Iranian assets will only occur after the Strait of Hormuz reopens.

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The Iranian delegation held "generally positive" talks in Doha, Tasnim reported, as the negotiating parties try to resolve key points of disagreement in a memorandum aimed at ending the conflict.

Remember how the war in Iran began
On February 28, United States President Donald Trump announced a "large-scale" attack on Iran, stating that the country's main objective was to "defend the American people by eliminating imminent threats from the Iranian regime."

These threats, he said, included Tehran's nuclear program - a recurring point of friction that has also hampered more recent negotiations to end the fighting.

The joint attacks by the US and Israel against Iran - which resulted in the death of the then supreme leader, Ayatollah Ali Khamenei - caused thousands of deaths across the country and damage to dozens of museums, historic buildings and cultural sites, according to Iranian media outlets and authorities.

In response, Iran launched a series of retaliatory attacks across the Middle East and effectively closed the Strait of Hormuz, a strategic waterway through which about 20% of the world's oil passes.

Weeks before the start of the war, the Trump administration carried out the largest military buildup in the Middle East since the 2003 invasion of Iraq, triggering warnings about escalating regional violence if a conflict erupted.

At the same time, US envoys held regular talks with Iran about a possible new nuclear deal. But those negotiations were unable to avert military action, with Trump accusing Iran at the time of rejecting "all opportunities to renounce its nuclear ambitions."

The outbreak of war in February also followed mass anti-regime protests in Iran the previous month, fueled by economic discontent amid skyrocketing costs.

Why is the Strait of Hormuz so important to the world economy?

Source: CNN