France to file case against Iran at world court over detained citizens

Brent crude futures dropped as much as 3.7% to $63.68 a barrel in early trade before paring losses to $63.98. US West Texas Intermediate (WTI) crude fell 3.3% to $61.05.

The sell-off followed remarks by US President Donald Trump, who said Washington was in "very serious negotiations with Iran for long-term peace" during his tour of the Persian Gulf, adding that Tehran had "sort of" agreed to US terms for a possible deal.

Traders view a possible agreement as a step toward easing sanctions on Iran, which could pave the way for the return of Iranian oil exports to global markets.

Adding to the downward pressure, data released late Wednesday showed an unexpected build in US crude inventories last week, fueling concerns about oversupply.

"The market is reacting to both the political developments and the inventory surprise," said a trader at a London-based commodities firm. "Any indication that Iranian barrels could re-enter the market weighs on prices."

Earlier this week, markets rallied on a US-China trade truce and a flurry of investment deals unveiled during Trump's visit to the Middle East.

Still, oil markets remain volatile as investors weigh the potential timing and terms of any US-Iran agreement, along with broader macroeconomic risks.

"Standing up against the crimes and barbarism of the Zionist regime in Gaza and the West's support for this bloodshed is a collective duty," Khamenei told a group of Red Crescent Society rescue workers on Monday.

"Today, the world is being run by these human-like beasts, and the Islamic Republic considers it its duty to stand against their savagery and bloodshed," he added, according to a readout of his remarks published by his website on Wednesday.

The remarks were among the sharpest since talks between the United States and Iran began last month, and were published after US President Donald Trump lambasted Tehran's foreign and domestic policy in a Riyadh speech on Tuesday.

"It is precisely this sense of duty that drives enemies—like these well-dressed, cologne-wearing, Western savages in suits—to stand against and show hostility toward the Islamic Republic. If we stop opposing their barbarity, they would have no enmity with us," Khamenei said.

"The main issue of the Western bullies as the Islamic Republic's rejection of their false civilization and said: Falsehood is doomed to decline and destruction," he added.

The move could ease Iran’s exit from the international money laundering blacklist and restore access to global banking should Western sanctions against it be lifted.

In a brief statement, the council's spokesman Mohsen Dehnavi announced it had agreed to join the UN convention against transnational organized crime, “within the framework of the Constitution and domestic laws.”

The decision marks a cautious step toward meeting FATF requirements but falls short of full endorsement.

The council also confirmed that discussions on the related Countering the Financing of Terrorism (CFT) bill will continue in upcoming sessions.

The move comes amid strong opposition from over 150 hardline lawmakers, who last month urged the Council to reject both conventions.

In a letter to Expediency Council chairman Sadeq Amoli Larijani, they argued that any approval—conditional or not—should wait until the risk of the UN “snapback” sanctions mechanism is entirely eliminated.

The snapback mechanism, which allows for the automatic reimposition of UN sanctions under the 2015 nuclear deal, is set to expire in October 2025 unless triggered by a signatory.

While Larijani recently hinted that conditional approval might be viable, conservative MPs have warned that even limited compliance could make Iran vulnerable to external pressure and economic penalties.

The FATF has kept Iran on its blacklist due to its failure to adopt international standards on money laundering and terror financing.

In a statement by lawmakers addressed to the International Atomic Energy Agency (IAEA), the group said that Iran's rights under the Nuclear Non-Proliferation Treaty (NPT) — including nuclear research, development, and peaceful use — are non-negotiable and fully verifiable under the IAEA safeguards.

Read by presidium member Ahmad Naderi during a public session, the statement said, "According to Article 4 of the Treaty on the NPT, the great nation of Iran is entitled to three inalienable rights: first, the right to research and development; second, the right to produce; and third, the right to utilize nuclear energy."

The lawmakers argued that in accordance with this article of the NPT, "the Islamic Republic faces no limitations in nuclear research and development and can proceed with enrichment up to 93% based on its scientific, medical, and industrial needs."

The lawmakers also criticized the IAEA for what they called four decades of obstructing Iran’s peaceful nuclear development, and for relying on what they called politically motivated intelligence, particularly from Iran's archenemy, Israel.

Last month, IAEA chief Rafael Grossi said in an interview with Le Monde that Iran was “not far” from being able to produce an atomic bomb, describing the country’s progress as “pieces of a puzzle” that could potentially come together.

Iran maintains that its nuclear program is for peaceful purposes and remains under IAEA monitoring.

Also on Wednesday, Iran’s Parliament Speaker Mohammad Bagher Ghalibaf condemned US President Donald Trump’s recent remarks in Riyadh in which he referenced Iran's alleged nuclear weapons program and Tehran's support for military proxies, calling them “delusional” and blaming US policies for instability in West Asia.

Speaking at the Parliamentary Union of the OIC Member States in Jakarta, Indonesia, Ghalibaf said, “The root of chaos in the West Asia region lies in the US regime’s support for the Zionist mafia.”

Responding to Trump’s allegations, also in Riyadh, that Iran is the region’s main source of instability, while offering a conditional nuclear deal, Ghalibaf said, “His remarks show he lives in illusion.”

“We advise him to open his eyes to the reality that resistance holds a deep place in the hearts of the people,” Ghalibaf said in reference to Tehran-backed regional armed groups.

“Instead of worrying about Iran’s internal affairs, he should be concerned about his own popularity, which has plummeted to historic lows for an American president,” Ghalibaf added.

The speaker also criticized the US for decades of hostile actions against Iran, including the 1953 coup, support for Saddam Hussein during the Iran-Iraq war, the downing of an Iranian passenger plane in 1988, and the assassination of Revolutionary Guard commander General Qassem Soleimani.

“The Islamic Republic has withstood maximum pressure and continues to challenge the global hegemonic system. Even US universities are feeling the impact of this resistance message,” he said, alluding to recent campus protests over the war in Gaza across the US.

Ghalibaf maintained that Iran does not seek nuclear weapons and called for regional security through cooperation among neighbors, “free from the interference of non-regional powers.”

“Iran is not a warmonger, but we will never surrender. We are brothers with our neighbors and reject US efforts to stir division to boost its arms sales,” he said.

Speaking at the US-GCC summit in Riyadh, Trump said, “I want to make a deal with Iran. But for that to happen, it must stop sponsoring terror, halt its bloody proxy wars and permanently and verifiably cease its pursuit of nuclear weapons.”

Iran maintains its nuclear program is for peaceful purposes.

Last month, the head of the UN's nuclear watchdog, Rafael Grossi, said: “Iran is not far from having a nuclear problem. They don’t have it, we know it, but the material for it is already there. To make a few warheads.”

Trump accused his predecessor, President Joe Biden, of emboldening Iran and undermining US allies in the Persian Gulf. “Everyone at this table knows where my loyalties are,” he said. “Those days are over.”

The summit in Riyadh took place during the first leg of Trump’s tour of the Persian Gulf as the US seeks to revitalize ties with regional allies and broker new economic and security partnerships. Trump traveled to Doha on Wednesday.

During the visit in Riyadh, Trump also announced a $600-billion investment agreement with Saudi Arabia, covering sectors from energy and defense to mining and technology.

On Tuesday, Trump, speaking before Crown Prince Mohammed bin Salman and other top Saudi and US officials, delivered a wide-ranging speech criticizing Iran while expressing willingness to strike a new nuclear deal.

Framing Tehran as the main obstacle to regional peace, Trump said, “The biggest and most destructive of these forces is the regime in Iran,” blaming it for destabilizing Syria, Lebanon, Gaza, Iraq, and Yemen.

He contrasted Iran’s decline with the Persian Gulf’s growth, noting that while “you have been constructing the world’s tallest skyscrapers,” Iran’s infrastructure is “collapsing into rubble.”

“If Iran’s leadership rejects this olive branch,” he warned, the US would impose massive maximum pressure to stop it from acquiring a nuclear weapon.

Iranian officials swiftly pushed back. Foreign Minister Abbas Araghchi, speaking on the sidelines of a cabinet meeting in Tehran on Wednesday, dismissed Trump’s remarks as provocative and misleading.

“Trump tries to portray Iran as the source of insecurity. But who killed 60,000 people in Gaza? Are we the ones spreading chaos?” Araghchi asked, in comments aired by state television, referring to US support of Israel in its war on Iran-backed Hamas in Gaza.

He rejected Trump’s threat of renewed pressure, saying, “The policy of maximum pressure has already failed.”

Araghchi added that Iran remains committed to dialogue and is awaiting further coordination by Oman, which has been mediating backchannel talks between Tehran and Washington.

“It is America that, through its sanctions over the past forty-some years, along with its pressures and its military and non-military threats, has hindered the progress of the Iranian nation; the one responsible for the economic problems is America,” he said.

Iranian Foreign Ministry spokesman Esmail Baghaei also denied that nuclear negotiations were at an impasse.

“The fact that both Iran and the US want the talks to continue means the negotiation process is still ongoing,” he said.

He said details about the next round of talks will be announced by Oman soon.

President Masoud Pezeshkian said on Tuesday evening, “If we stand together, America will be powerless against us.”

In a surprise move during his stay in Riyadh, Trump also announced the lifting of US sanctions on Syria, following a landmark meeting with Syrian President Ahmad al-Sharaa—the first such encounter between leaders of the two nations in over two decades.

“We’re taking them all off. Good luck Syria, show us something very special,” Trump said at a US-Saudi investment forum.

The US leader also touted a recent ceasefire with Yemen’s Houthi rebels, a key Iran ally, and a diplomatic breakthrough in South Asia, where American mediation reportedly helped de-escalate tensions between nuclear-armed India and Pakistan.

As the summit convened on Wednesday, Saudi Foreign minister Prince Faisal bin Farhan Al Saud said Riyadh fully supports the US-Iran nuclear talks and hopes for positive results.

"Regarding the nuclear file, there is full support for the ongoing talks between the United States and Iran. We hope that these talks will lead to a positive outcome that ensures the stability of the region."

Oman’s Deputy Prime Minister for International Affairs, Al Sayyid Asaad Tariq Taimur Al Said, also expressed optimism that a nuclear deal with Iran could still be reached.

Bahrain’s King Hamad bin Isa Al Khalifa echoed that sentiment, saying continued dialogue would “bolster stability and improve prosperity across the region.”

Whether Oman’s mediation can bridge the divide remains to be seen.