Iran’s currency fell sharply on Saturday after a planned fourth round of indirect talks with the United States was postponed, as sharp disagreements over uranium enrichment and inspections cast doubt on prospects for a breakthrough.
The rial dropped past 870,000 to the US dollar in Tehran’s open market, reversing gains made earlier last month during previous rounds of diplomacy in Oman. The currency had recovered to around 795,000 following the third round but slid again amid rising uncertainty.
A member of Iran’s parliament said the administration of former President Ebrahim Raisi engaged in nuclear negotiations but deliberately withheld information from the public to avoid market volatility.
“The Raisi government also negotiated, but didn’t tell the people,” said Meysam Zohourian, a member of the parliament’s Economic Commission, in remarks published Saturday. “Talks happened, but society wasn’t aware, so it didn’t become psychologically conditioned to the negotiation climate.”
Zohourian argued that the secrecy helped prevent the currency market from reacting to shifts in the diplomatic process. “Progress or failure in talks didn’t affect the exchange rate because the government didn’t socialize the negotiation process,” he said.
He added that withholding information helped manage public expectations. “People didn’t know who had come or gone, and that lack of awareness kept expectations in check.”
Russia’s ambassador to international organizations in Vienna expressed support for Iran’s nuclear stance on Saturday, saying Tehran is entitled to the full nuclear fuel cycle under the Non-Proliferation Treaty (NPT).
“Minister Araghchi is absolutely right,” Mikhail Ulyanov wrote on X. “Under the NPT, States Parties don’t only take some basic obligations, but also get some basic rights that can’t be questioned.”
Ulyanov reposted comments made earlier by Iranian Foreign Minister Abbas Araghchi, who warned that “maximalist positioning and incendiary rhetoric” from the US was undermining progress in ongoing nuclear talks.
Araghchi wrote, “Iran has every right to possess the full nuclear fuel cycle as a founding signatory to the NPT,” adding that other countries enrich uranium while rejecting nuclear weapons, including several in Asia, Europe, and South America.
The exchange came amid heightened tensions following US Secretary of State Marco Rubio’s remarks that Iran must end enrichment and allow full American inspections to avoid serious consequences, including possible military action.
A senior adviser to Iran’s Supreme Leader said Saturday that the outcome of ongoing indirect negotiations with the United States depends on whether global powers act with “fairness and rationality.”
Ali Larijani, a former parliament speaker and close aide to Ali Khamenei, said the diplomatic process may or may not succeed, depending on how the current world order is managed.
“These talks may succeed, or they may not. It depends on whether there is fairness and rationality in how global affairs are conducted,” Larijani said.
He added that while international rules are often presented as multilateral, power dynamics ultimately drive outcomes. “Many global regulations are outwardly backed by international institutions, but behind them lies power,” he said.
“Right now, the Americans believe they must enforce their power,” he added, referring to what he described as Washington’s unilateral approach.
The remarks come as indirect nuclear talks between Iran and the US remain in limbo, following the postponement of a fourth round scheduled in Rome.
Larijani also said that Iran did not create groups like Hezbollah or Hamas, and dismissed the idea that Tehran relies on regional proxies.
“Did we create Hezbollah? No. It started when Israel occupied Beirut,” Larijani said. “They say Iran has armed branches — Iran doesn’t need armed branches.”
Referring to Israeli statements about Hamas, he said: “If Hamas has been destroyed, then whom are you exchanging prisoners with?”
Iran’s currency fell sharply on Saturday after a planned fourth round of indirect talks with the United States was postponed, as sharp disagreements over uranium enrichment and inspections cast doubt on prospects for a breakthrough.
The rial dropped past 870,000 to the US dollar in Tehran’s open market, reversing gains made earlier last month during previous rounds of diplomacy in Oman. The currency had recovered to around 795,000 following the third round but slid again amid rising uncertainty.
US Secretary of State Marco Rubio said Thursday that Iran must end all uranium enrichment and open all nuclear facilities, including military sites, to American inspectors if it wants to avoid “serious consequences, including potential military action.”
“There’s no reason for enrichment unless you want a weapon,” Rubio told Fox News, adding that Iran must also abandon support for proxy groups and halt long-range missile development.
Iranian Foreign Minister Abbas Araghchi on Friday dismissed Rubio’s demands, warning that such “maximalist positioning and incendiary rhetoric achieve nothing except eroding the chances of success.” He said Iran has “every right to possess the full nuclear fuel cycle as a founding signatory to the NPT.”
“A credible and durable agreement is within reach,” Araghchi said. “All it takes is firm political will and a fair attitude.”
The International Atomic Energy Agency (IAEA) has confirmed Iran is the only non-nuclear-armed country enriching uranium to 60%.
No official reason has been given for the postponement of this weekend’s round. Iranian officials have acknowledged lingering disagreements over both general principles and technical details.
The rial had plunged to a record low of around 1,058,000 per dollar in early April before stabilizing during earlier rounds of talks.
