Wednesday, February 18, 2026-The United States and Iran both reported “progress” in indirect nuclear negotiations held in Geneva, Switzerland, as diplomats pushed to ease one of the world’s most dangerous standoffs.
Iranian Foreign Minister Abbas Araghchi said Tehran and Washington reached an understanding on key “guiding principles” during the second round of discussions, and that negotiators would now begin drafting potential agreement text. Officials described the talks as more “constructive” than earlier rounds, though neither side suggested a final deal is imminent.
U.S. representatives acknowledged gains on broad issues but stressed that significant gaps remain, with Tehran expected to return in the coming weeks with detailed proposals to close those differences.
The discussions — mediated by Oman and held amid heightened regional military activity — focused narrowly on Iran’s nuclear program, with both sides under intense pressure to avoid further escalation. Despite progress, U.S. Vice President JD Vance reiterated that Iran has yet to fully meet Washington’s core demands.
Markets reacted swiftly to the diplomatic signals, with Gulf stock indexes climbing and oil prices fluctuating on hopes of reducing geopolitical risk. Yet the talks have not prevented continued military posturing in the Persian Gulf, including recent drills by Iran’s Revolutionary Guard near the Strait of Hormuz.
Analysts warn that while the Geneva negotiations have opened a pathway forward, “progress” does not guarantee a breakthrough and the world could still face heightened tensions if key issues remain unresolved.
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