Strait of Hormuz Standoff: A Sidelong Look at Diplomacy and Oil The latest developments in the Iran US standoff are no surprise to those familiar with this prolonged diplomatic dance.
President Trump's announcement that new talks would begin on Monday sent oil prices plummeting, but Iranian officials swiftly disabused him of any notion that negotiations were underway.
"We're not currently negotiating with the United States," declared Esmaeil Baghaei, spokesperson for Iran's Foreign Ministry, in a statement that effectively doused hopes of a quick resolution to the conflict.