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'Work still in progress,' says US Secretary of State Marco Rubio on the deal with Iran

Channel: ThePrint Published: 2026-05-25 04:15
ThePrint

Marco Rubio says the Iran deal is still "work in progress" and warns not to overread the lack of an immediate announcement. He frames the proposal as a solid but time-limited package centered on opening the Strait of Hormuz and starting real nuclear negotiations, while emphasizing Trump will not accept a bad deal and will pursue alternatives if diplomacy fails.

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Detailed summary

Rubio’s core message is that the Iran talks are not dead, but they are not finished either: “we’re still work in progress.” He says the team had hoped for news sooner, but the delay mainly reflects the need to hear back through the Iranian system, so observers should not “read too much into it.” In his telling, the U.S. believes there is a “pretty solid thing on the table” involving two linked pieces: Iran’s ability to open the straits, and a “very real, significant, timelimited negotiation on the nuclear matters.” He repeatedly frames the administration’s posture as patient but firm. Rubio says President Trump is “not in a hurry” and “is not going to make a bad deal,” and that Washington will give diplomacy “every chance to succeed before we explore the alternatives.” He presents the leverage point as binary: the outcome will be either a “good agreement” or the U.S. …

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Main takeaways

  1. The Iran deal is not being announced yet; Rubio says it is still in progress.
  2. The proposed package appears to link Strait of Hormuz access with time-limited nuclear talks.
  3. Trump’s stance is framed as patient but hard-line: no rushed or bad deal.
  4. Lebanon is a separate track, with Hezbollah identified as the main obstacle.
  5. Rubio signals diplomacy-first, but leaves room for non-diplomatic alternatives if talks fail.

Market read by horizon

Short term

Near term, this is mostly a headline-risk trade: if Iran signals progress, geopolitical risk premia can ease; if not, the market may quickly revert to oil-up/uncertainty-up pricing. The lack of an immediate deal should not be treated as failure yet, but it is a reminder that timing remains fluid.

  • Immediate risk is headline-driven volatility around whether Iran responds and whether a deal gets finalized soon.
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  • Rubio explicitly warns not to overread the delay, so the next catalyst is any official response or leak, not the silence itself.
  • For markets, the key tactical issue is whether the Strait of Hormuz framework looks credible enough to keep easing geopolitical risk and oil premium.
Mid term

Over the next few weeks, the base case is continued negotiation with uneven headlines rather than a clean resolution. The setup improves only if there is a visible Iranian response and a more explicit nuclear timetable; otherwise the story stays stuck in stop-start diplomacy.

  • Over the next several weeks, the setup hinges on whether a "very real, significant, timelimited" nuclear negotiation actually starts.
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  • A workable deal would likely require both sides to accept constrained commitments rather than a grand settlement.
  • If diplomacy keeps advancing, the market narrative could shift toward reduced Middle East supply risk and lower risk premia in energy.
Long term

Structurally, Rubio is describing a world where Middle East security is managed through conditional bargains around chokepoints, proxies, and limited nuclear constraints. Even if this specific deal advances, the deeper regime risk remains that proxy violence and maritime leverage can reprice global energy and risk assets very quickly.

  • Rubio’s comments reinforce a broader regime of transactional diplomacy: the U.S. wants concrete, limited bargains rather than open-ended negotiations.
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  • Hezbollah is presented as a structural obstacle to stable Lebanese sovereignty, suggesting persistent regional instability even if the Iran file improves.
  • If the U.S. succeeds in tying maritime access to nuclear constraints, that would strengthen the precedent that Gulf chokepoints are bargaining chips in regional security.
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Key claims (7)

NEUTRAL Middle East diplomacy Iran deal

The Iran negotiations are still in progress and no immediate announcement should be expected.

Rubio says they are still working and that people should not read too much into the delay.

BULLISH geopolitics Strait of Hormuz / Iran nuclear talks

The U.S. believes a solid proposal is on the table involving the Strait of Hormuz and time-limited nuclear negotiations.

Rubio explicitly describes the package and its components.

NEUTRAL U.S. foreign policy Trump administration Iran policy

President Trump will not accept a bad agreement on Iran and prefers diplomacy before alternative measures.

Rubio says Trump is not in a hurry and will not make a bad deal, but will explore alternatives if needed.

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Assets discussed (5)

Strait of Hormuz
BULLISH other

Rubio says the proposed deal includes opening the straits, which would lower geopolitical supply risk.

Oil
BEARISH commodity

A deal that reduces Strait of Hormuz risk would generally pressure the geopolitical oil premium lower.

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Speakers

SPEAKER Marco Rubio

Where this transcript pushes against consensus

  • Rubio says the deal has broad support and is "very reasonable," but provides no concrete terms or evidence of Iranian acceptance.
  • He frames the delay as merely procedural, yet the transcript does not show any independent confirmation that a deal is close.
  • The claim that the proposed arrangement would open the straits and unlock nuclear talks is asserted, not explained in detail.
  • He characterizes Hezbollah as the sole problem in Lebanon, which may understate broader political and military constraints.
  • He dismisses the reporter’s questions about the alleged racist comment without engaging the substance, so the factual issue remains unresolved.

Topics

Iran nuclear talksStrait of HormuzTrump foreign policyLebanon ceasefireHezbollahPakistan-India tensionsIndia-U.S. relationsMiddle East diplomacy

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