World February 20, 2026

Iran says U.S. did not press for zero enrichment in Geneva talks; Tehran did not offer suspension

Foreign Minister frames negotiations as focused on guaranteeing a peaceful nuclear program in exchange for sanctions action

By Priya Menon
Iran says U.S. did not press for zero enrichment in Geneva talks; Tehran did not offer suspension

Iranian Foreign Minister Abbas Araqchi said the United States did not demand zero uranium enrichment during recent negotiations in Geneva, and Iran did not propose suspending enrichment. Araqchi said the talks are centered on mechanisms to ensure Iran's nuclear activities remain peaceful in return for unspecified steps on sanctions, and he signaled a near-term counterproposal to U.S. envoys is possible.

Key Points

  • Iranian Foreign Minister Abbas Araqchi said neither side proposed extreme positions on enrichment: Iran did not offer a suspension and the U.S. did not seek zero enrichment. - Impacted sectors: defense and diplomatic relations, which can influence geopolitical risk pricing.
  • Araqchi said technical and political "confidence building measures" would be used to guarantee the peaceful nature of Iran's nuclear program in exchange for unspecified actions on sanctions. - Impacted sectors: financial markets and trade, where sanctions and their potential easing can affect market access and corporate exposure.
  • Araqchi signaled a near-term counterproposal to U.S. envoys could be ready within two to three days, with further talks in about a week, indicating an active, short-term diplomatic timeline. - Impacted sectors: markets sensitive to geopolitical news, including defense contractors and regional energy markets.

WASHINGTON, Feb 20 - Iran's foreign minister said on Friday that discussions held this week in Geneva did not include a U.S. demand for zero uranium enrichment, and that Iran did not put forward an offer to halt its enrichment activities.

Abbas Araqchi, speaking in an interview on MS NOW, said negotiators were focused on establishing guarantees that "Iran's nuclear program, including enrichment, is peaceful and would remain peaceful forever." He dismissed the idea that either side had proposed the binary positions of zero enrichment or a suspension of enrichment.

"We have not offered any suspension and the U.S. side has not asked for zero enrichment," Araqchi said.

Araqchi said both technical and political "confidence building measures" would be implemented to assure the peaceful nature of Iran's program. He linked those measures to reciprocation from the international side in the form of "some kind of action on sanctions," but he provided no further detail on what those sanction actions would entail.

The foreign minister did not provide specific timing for a formal counterproposal aimed at U.S. envoys Steve Witkoff and Jared Kushner, but he expressed a view that a diplomatic agreement was attainable. He said he thought a deal could be reached "in a very short period of time," and that he expected to present a draft to the envoys "in the next two or three days" with additional discussions to follow "in a week or so."

The remarks come against the backdrop of a recent statement by U.S. President Donald Trump, who on Thursday set Tehran a deadline of 10-15 days to secure a deal or face "really bad things." Araqchi's comments also come amid a U.S. military buildup in the Middle East that has raised concerns about the potential for a broader conflict.


The exchanges in Geneva, as described by Araqchi, suggest negotiators are parsing technical and political confidence-building steps rather than demanding an immediate halt to enrichment or insisting on zero enrichment as a condition. Araqchi's indication of an imminent draft offer points to continued diplomatic engagement in the very near term, though details on sanctions relief and the precise measures to ensure peaceful intent remain unspecified.

Risks

  • A U.S. military buildup in the Middle East and a public deadline from the U.S. president increase the risk of escalation and the possibility of a wider conflict, which would affect defense-related stocks and regional stability.
  • Uncertainty around the specific nature and timing of any sanctions-related concessions or confidence-building measures leaves financial markets and firms with exposure to Iran in a state of ambiguity, risking volatility for affected sectors.
  • Lack of detail on the proposed technical and political measures to guarantee peaceful intent means implementation and verification remain uncertain, creating political and operational risks for any prospective agreement.

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