More Uncertainties for International Oil Prices?

On March 4, according to Bloomberg, Russian President Vladimir Putin has agreed to assist US President Donald Trump in communicating with Iran, covering topics such as Iran's nuclear program and its support for anti-American proxy organizations in the region. Analysts believe that this diplomatic move could have a significant impact on global oil prices, as any changes to the sanctions on Iran would affect crude oil supply, thereby influencing international oil price trends.

The report also stated that the United States and Iran are seeking communication channels and looking for effective ways to mark the beginning of dialogue. However, any understanding between the US and Iran will be 'complex', with many hardliners in Iran openly opposing engagement with Washington.

Trump Administration Seeks Diplomatic Breakthrough via "Russian Intermediary"

According to informed sources cited by Bloomberg, Trump directly conveyed his intention to Putin during a phone call in February, after which senior US officials discussed the matter with their Russian counterparts in Saudi Arabia.

US Secretary of State MarcoRubio and Russian Foreign Minister Sergey Lavrov met in Riyadh on February 18, where they discussed Washington's desire for Moscow's assistance in resolving issues with Iran.

Kremlin spokesperson Dmitry Peskov said, "Russia believes that the US and Iran should resolve all issues through negotiations," and Moscow is "willing to do what it can to achieve this goal." Iranian Foreign Ministry spokesperson Esmaeil Baghaei responded that, given the importance of these issues, it is "natural" for countries to offer assistance.

The report also noted that since the outbreak of the Russia-Ukraine conflict in 2022, relations between the US and Russia have sharply deteriorated. In the approximately six weeks since Trump took office, he has been trying to mend ties with Putin. Besides seeking to end the Russia-Ukraine conflict through direct dialogue with Putin, both sides have expressed willingness to cooperate on other geopolitical interests.

Amid "Complex Games," Will Oil Prices See Further Changes?

Although Trump has indicated his intention to reinstate the "maximum pressure" policy on Iran, including re-imposing sanctions and targeting Iranian security forces, he has also expressed a desire to "immediately" start working on a "verifiable peaceful nuclear agreement" with Iran.

According to a previous article by Wall Street CN, US Treasury Secretary Janet Yellen stated last month that the US aims to reduce Iran's oil exports to below 10% of current levels:

We are committed to bringing Iran back to exporting 100,000 barrels of oil per day, as was the case during Trump's first term. Iran is currently exporting 1.5 to 1.6 million barrels of oil per day.

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