Trump says he will not be rushed into Iran peace deal, warns Tehran over nuclear weapons

Donald Trump has said he told his representatives not to rush into any deal with Iran, adding that the US blockade on Iranian ships on the Strait of Hormuz would "remain in full force and effect” until an agreement to end the war was reached.

Tehran has not publicly committed to giving up its uranium - a key demand of Trump’s, but the US president wrote on Truth Social on Sunday that talks were progressing and the US relationship with Iran had become more professional and productive.

“They must understand, however, that they cannot develop or procure a nuclear weapon or bomb”, the president wrote.

It came after Trump on Saturday said that a deal, including reopening the Strait, has been "largely negotiated", with leaks of the draft details showing significant progress has been made.

Iran’s Fars news agency reported that it would remain under Iran’s management and ‌dismissed Trump's announcement of reopening the Strait ⁠as "incomplete ⁠and inconsistent ‌with ​reality."

Oil ‌prices hit two-week lows on Monday on optimism that the US and Iran were moving closer towards a peace deal even though they remained ​at odds over key issues, including blockades on the ​Strait of Hormuz that continued to restrict oil supply ⁠from the Middle East.

Brent crude futures fell $4.71, or 4.55 per cent, to $98.83 ​a barrel, while US West Texas Intermediate ​was at $92.03 a barrel, down $4.57, or 4.73 per cent.

Speaking about the draft Iran deal, US secretary of state Marco Rubio has said that “some progress has been made - significant progress, although not final progress”.

He hinted that “there will be, maybe, more news coming out a bit later today”. Rubio, who is speaking at a news conference with India’s foreign minister in New Delhi, emphasised that Iran can never have a nuclear weapon.

He said that it was possible that further good news is to come “at least in regards to the Strait”.

US secretary of state Marco Rubio has said that “some progress has been made - significant progress, although not final progress” about the draft Iran deal

President Donald Trump has said he told his representatives not to rush into any deal with Iran, adding that the US blockade on Iranian ships on the Strait of Hormuz would "remain in full force and effect” until an agreement to end the war was reached

Iranian president Masoud Pezeshkian told state TV they were ready “to assure the world that we are not after a nuclear weapon"

Oil ‌prices hit two-week lows on optimism that the US and Iran were moving closer towards a peace deal even though they remained ​at odds over key issues, including blockades on the ​Strait of Hormuz that continued to restrict oil supply ⁠from the Middle East.