Doha talks test fragile US-Iran truce

Washington and Tehran have used a new round of indirect talks in Doha to move from crisis management towards implementation of a preliminary understanding that has lowered fears of a wider Gulf confrontation but left major disputes unresolved.

The discussions, hosted by Qatar with Pakistani mediation, began on Tuesday night and continued on Wednesday in separate sessions involving senior negotiators and technical experts. The agenda focused on how to put into effect a memorandum of understanding reached after weeks of military tension, including the phased release of frozen Iranian funds, procedures for handling alleged breaches, and arrangements linked to shipping through the Strait of Hormuz.

Iran’s delegation was led by Deputy Foreign Minister Kazem Gharibabadi, while the US side included senior envoys involved in the Trump administration’s Iran channel. The format remained indirect, with Qatari and Pakistani officials shuttling between the two sides, reflecting Tehran’s refusal to hold direct talks while sanctions and security disputes remain unresolved.

Qatar said the meetings produced positive progress and that both sides had agreed to continue discussions. The next round is expected after the funeral ceremonies for Ayatollah Ali Khamenei, whose death has added a further layer of uncertainty to Tehran’s political calculations. The succession process in Iran is being watched closely by regional governments, energy traders and security officials, as any shift in power could affect the pace and scope of diplomacy.

The frozen funds issue is central to the talks. About $6 billion in Iranian assets held under restricted arrangements has been tied to compliance benchmarks rather than an immediate transfer. The money is expected to be released in stages and used for approved purchases, including humanitarian goods and other essential imports. Tehran wants speedier access, while Washington is insisting on safeguards designed to prevent funds from being diverted to military or regional proxy activities.

The mechanism for addressing violations is another sensitive point. Iran has accused Washington of failing to honour elements of the memorandum, while the US side wants clearer verification of Tehran’s commitments on maritime security and nuclear-related restrictions. The proposed channel would allow complaints to be raised through mediators before either side escalates politically or militarily.

The Doha process follows a period of sharp confrontation in the Gulf, where attacks, shipping disruption and threats around the Strait of Hormuz pushed oil markets higher and prompted warnings from Gulf capitals about the risks to trade. The strait remains one of the world’s most important energy routes, carrying roughly a fifth of global oil flows. Any renewed disruption would affect crude prices, insurance costs and shipping schedules across Asia, Europe and the Middle East.

One of the most difficult issues concerns Tehran’s demand for recognition of its authority over traffic through the strait and its interest in charging fees on commercial shipping. Washington and Gulf states oppose any arrangement that could be seen as legitimising tolls or coercive control over the passage. Maritime traffic has improved from the worst phase of the crisis, but shipping companies remain cautious, with war-risk premiums and route planning still sensitive to political signals.

The talks have also been shaped by the wider regional file. Washington wants assurances that Iran will not use allied armed groups to pressure US partners while negotiations continue. Tehran, in turn, has linked parts of the diplomatic track to the situation in Lebanon and Israel’s military posture. That has widened the talks beyond a narrow funds-for-compliance arrangement and made the process vulnerable to developments outside the negotiating rooms.

The nuclear question remains the core strategic dispute, even though the Doha technical meetings appeared to focus more on implementation than on a full nuclear settlement. The memorandum has created a limited window for broader negotiations, but disagreements persist over uranium enrichment, sanctions relief, inspections and sequencing. Washington wants measurable constraints before major relief is granted. Tehran wants sanctions relief and access to its assets before accepting deeper limits.

Energy markets have responded cautiously. Brent crude eased towards the low $70 range as the talks reduced immediate fears of escalation, though traders remain alert to any breakdown. The price movement reflects relief over diplomacy rather than confidence in a durable settlement. OPEC+ supply plans, US inventories and demand signals are also shaping the market, but the Gulf security premium remains a decisive factor.