The U.S. military halted two weeks of strikes on Friday to give diplomats space for peace talks. Iran has also refrained from military operations against regional targets in recent days.
However, hostilities among other actors risk further escalation and an end to negotiations.
Iran's foreign ministry spokesperson Esmail Baghaei stated that Iran "currently has no negotiations with the United States," reiterating that official ongoing talks are solely with Oman.
From an economic perspective, the most important negotiating point will be guarantees of maritime security and the return and normalization of toll-free, two-way traffic flows through the strategically vital Strait of Hormuz.
Oman, which sits on the opposite side of the strait to Iran, has emerged as a key player in negotiations.
