Iranian President Masoud Pezeshkian said Tehran remains open to negotiations with Washington but will only honor its commitments if the United States does the same, as fresh American sanctions add pressure to an already strained Iranian economy.
Speaking in a televised interview on Friday night, Pezeshkian said Iran could resume talks with the United States if there was a reciprocal response to its own commitments. He acknowledged that the two sides might not secure everything they want at the negotiating table, but said an agreement could still provide a basis for moving forward.
“We can move forward” if Iran’s actions are met with reciprocal and proportional measures from the other side, Pezeshkian said.
His comments came as uncertainty continues to surround a memorandum of understanding signed by Iran and the United States in June. The agreement was intended to create a framework for ending the conflict in the region and establishing further negotiations between Tehran and Washington.
Iran says commitments must be mutual
Pezeshkian said the central issue was whether both sides would abide by the commitments they had made.
“The main issue is that we must be committed to the MoU we have written. When we sit down at the negotiating table, we can talk to them,” he said.
Under the memorandum, Washington was expected to lift a naval blockade and remove sanctions targeting Iranian oil and petrochemical exports. The United States was also expected to release Iranian assets that had been frozen under sanctions.
Pezeshkian said Iran had exported almost 90 million barrels of oil during the period in which the agreement was being implemented.
The memorandum was signed on June 18, with Iran and the United States agreeing to work toward ending the war in the region on all fronts, including Lebanon. The two sides were scheduled to begin negotiations within 60 days, with the deadline falling on Aug. 17.
Those talks have yet to produce a final agreement. Their future became even less certain after tensions between Iran and the United States escalated last month.
Pezeshkian's remarks suggest Tehran has not closed the door on diplomacy, but remains reluctant to make further concessions without clear action from Washington.
Economic pressure weighs on Tehran
The diplomatic uncertainty comes as Iran faces continued economic pressure, with inflation, unemployment, investment and market prices among the concerns confronting the government.
In a separate message issued on Friday for Government Week, Iranian Supreme Leader Mojtaba Khamenei called for serious attention to economic and livelihood problems.
Khamenei said Iran needed stronger economic growth, greater investment and increased production to address its difficulties. He also urged greater reliance on domestic production, while saying imports should be used properly and wisely in areas where local output cannot meet demand.
His comments reflect the pressure on Tehran to improve economic conditions while dealing with the impact of international sanctions and restrictions on access to global financial markets.
Khamenei also called for national unity and the protection of social cohesion. He warned against statements that could encourage hopelessness or weaken public motivation.
The economic situation has become closely tied to Iran's foreign policy, particularly its relationship with Washington. Restrictions on oil exports, financial transactions and access to international banking channels have made economic relief a central issue in any potential diplomatic agreement.
Washington announces fresh sanctions
While Pezeshkian was signaling a willingness to return to negotiations, the United States announced another round of measures targeting Iran's financial networks.
The US Treasury Department's Financial Crimes Enforcement Network on Friday proposed a rule that would revoke Banque Misr UAE's correspondent banking access to US financial institutions.
The measure forms part of a new American sanctions campaign known as “Operation Economic Outcast”, which Washington says is intended to cut off Iran's remaining sources of international finance.
US Treasury Secretary Scott Bessent said the department had promised to sever Tehran's remaining economic lifelines and prevent entities supporting the Iranian government from maintaining access to the US dollar and the international financial system.
“Banque Misr UAE decided to find out the hard way, and today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime,” Bessent said.
According to the Treasury Department, Banque Misr UAE represents an important channel for Iran's access to US dollars. Between January 2024 and June 2026, the department said the bank processed about $1.8 billion in transactions involving 103 companies that it believes may have been connected to Iranian shadow banking networks.
Washington described the proposed action as an attempt to close a financial channel that Tehran could use to bypass sanctions.
Bank Melli official also sanctioned
The Treasury Department's Office of Foreign Assets Control separately announced sanctions against Iranian national Reza Mohammad Taeedi, general manager of Bank Melli's Dubai branch.
The US government accused Bank Melli of facilitating billions of dollars in transactions through accounts controlled by the Islamic Revolutionary Guard Corps' Quds Force.
The measures form part of the wider campaign announced by Bessent on Monday. He said Washington would target organizations and individuals involved in money laundering or helping Iran evade sanctions.
US President Donald Trump also warned earlier this month that his administration would pursue what he described as the “most crushing economic operation ever” against Iran.
Trump described the campaign as economic warfare and isolation on an unprecedented scale, signaling that Washington intends to maintain strong economic pressure even as Iranian officials continue to discuss the possibility of diplomacy.
Tehran rejects US sanctions
Iran has strongly rejected the new American measures.
The Iranian Foreign Ministry on Friday urged countries around the world not to join Washington's unilateral sanctions campaign.
In a statement, the ministry accused the United States of pursuing sanctions policies that violate the UN Charter, international humanitarian law and human rights.
Tehran also accused Washington of using the US dollar and its influence over the global financial system to pressure other countries into adopting what it called interventionist policies against Iran.
The ministry called on governments not to implement the sanctions and not to recognize situations or consequences resulting from what it described as illegal American actions.
The dispute reflects a major obstacle to renewed negotiations. Iran is demanding recognition of its rights and relief from sanctions, while Washington is seeking to restrict the financial networks it says allow Tehran to circumvent those measures.
Iran says diplomacy remains possible
Iranian Foreign Minister Seyed Abbas Araghchi said Friday that diplomacy with Washington could still resume if the United States accepts that pressure will not force Tehran to change its position.
Araghchi made the comments in a post on X after meeting Qatari Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani in Tehran on Thursday.
The two officials held what Araghchi described as creative discussions.
“Putting diplomacy back on track isn't impossible. It hinges on US understanding of one simple fact: pressure doesn't work,” Araghchi said.
He called on Washington to rebuild trust, communicate respectfully, recognize Iran's rights and honor its commitments.
The statements from Pezeshkian and Araghchi indicate that Tehran still sees negotiations as possible, but only under conditions that include reciprocal commitments and an easing of pressure.
For now, however, Washington is moving in the opposite direction economically, with new measures targeting banks and financial intermediaries accused of helping Iran bypass sanctions.
That leaves the future of the June memorandum tied to a difficult test: whether the two governments can restore enough trust to return to negotiations while continuing to disagree sharply over sanctions, economic pressure and Iran's access to the international financial system.
