Iran Says US 'Not Serious' About Talks as Tanker Is Hit in Hormuz and Brent Holds Near $115

Nearly eight months into the war between Iran and the U.S., Tehran said Monday, Oct. 26, that Washington is not negotiating in good faith, even as Iranian officials insist indirect talks are still alive.

"The American side is not serious about negotiations," Foreign Ministry spokesman Esmaeil Baqaei said at his weekly news conference, according to Iran's state-run IRNA. He said Washington keeps confusing diplomacy with imposing demands. He also noted that Trump voiced support for negotiations shortly before the U.S. strikes on Iran in June 2025. "Do you see any goodwill in this approach?" Baqaei asked.

Trump's position

Trump said Sunday he is still deciding between reaching an agreement with Iran and taking action to "finish them off." He has kept open the possibility of a new round of major U.S. strikes.

Iranian officials said Sunday that indirect negotiations with the U.S. continue. They also said Tehran will not change its positions even if Trump orders American attacks to resume.

Baqaei also said Iran has never possessed nuclear weapons or sought them. He accused Washington of using allegations about the nuclear program to justify military action, and of being swayed by Israeli claims. The U.S. and Israel hold the opposite view of Iran's nuclear ambitions. No evidence on that dispute was presented Monday.

Baqaei said Iran has received no new European proposal beyond a political statement. He criticized Britain, France and Germany for following Washington's lead on restoring UN sanctions.

Qatar and the missing pilots

Baqaei said Iran holds Qatar responsible for clarifying the fate of three Iranian pilots whose aircraft were hit in that country. "Until we have evidence of their deaths or receive precise information and documentation, we assume that the country where their aircraft were hit must be held accountable," he said.

He confirmed a Qatari delegation recently visited Tehran. He described the trip as bilateral cooperation and regional mediation, and said Qatar had sought to convey messages and present its positions.

On Israel's upcoming elections and threats of military action, Baqaei said it makes no difference to Iran who leads Israel.

Hormuz and the oil squeeze

The U.K. navy's Maritime Trade Operations center said Monday that a tanker transiting outbound through the Strait of Hormuz was struck Friday by an "unknown projectile, disabling the vessel." UKMTO said the crew were reported safe.

Iran claimed it struck at least four tankers near the strait on Thursday. No independent corroboration of those claims has emerged. Trump accused the Iranian government of inventing attacks on commercial vessels to push up global oil prices ahead of the U.S. midterm elections.

Brent crude sat around $115 a barrel early Monday after surging last week on supply concerns. The Middle East and Ukraine crises continue and the Northern Hemisphere is heading into the winter demand season.

Blockade effects

The U.S. naval blockade has cost Iran at least $25 billion in oil revenue, according to U.S. Central Command.

Intelligence firm Kpler told The Wall Street Journal last week that Iran's floating reserve of crude had run out. The oil sat on dozens of tankers in Asian waters and was being sold to Chinese refineries. Kpler said it ran out in mid-October because the blockade prevents Iran from replacing it.

On Sunday, Iranian parliament speaker Mohammad Bagher Ghalibaf called for a campaign to cut gas consumption by at least 10%. Officials anticipate shortages as winter approaches.

Foreign Minister Abbas Araghchi, in a message marking Iran's Civil Defense Week, praised the country's resilience. He credited civil defense, national mobilization and coordination between the armed forces and the diplomatic service. He referred to "the enemy's two recent acts of aggression" and said the ministry will "spare no effort" defending Iran's interests politically and legally.

Israel denies a rift

Israeli Defense Minister Israel Katz said Monday that reports of a rift between the army and civilian leaders over possible new strikes on Iran are "entirely baseless." Israel's Channel 12 had reported Sunday, citing unnamed sources, a confrontation between Prime Minister Benjamin Netanyahu and army chief Eyal Zamir over an unspecified new directive. Netanyahu dismissed that report as "rubbish."

Trump has not announced a decision. Iran says it will hold its positions either way, and its own officials are already preparing the public for fuel shortages this winter.