Iranian spokesperson Baghaei has declared that Tehran's missile and defense capabilities will not be negotiable with anyone, marking a firm and unequivocal stance on the country's military posture. The statement reflects Iran's position that its defense infrastructure falls outside the scope of any diplomatic discussions or external negotiations.

Tehran's Position on Defense Sovereignty

The declaration by Baghaei draws a clear boundary around Iran's military capabilities, specifically its missile program and broader defense systems. By stating these matters are non-negotiable with "anyone," the statement encompasses all potential interlocutors, whether bilateral or multilateral in nature.

The following key points summarize the core assertion made by the Iranian spokesperson:

• Subject: Iran's missile and defense capabilities
• Spokesperson: Baghaei
• Position: Non-negotiable with any party
• Scope: Applies universally, without exception

Significance of the Statement

The public declaration by Baghaei serves as an official articulation of Tehran's stance regarding its defense and missile programs. Such statements are typically issued to communicate red lines in the context of ongoing or anticipated diplomatic engagements.

The statement does not provide further elaboration on the specific context or timing of the declaration, but its categorical nature underscores the weight Tehran places on maintaining full sovereign control over its defense and missile programs.

Iran's Foreign Ministry spokesperson has stated that Tehran has no plan to allow International Atomic Energy Agency (IAEA) inspectors to visit nuclear sites that were targeted during the recent conflict. The announcement adds a significant complication to the broader framework of U.S.-Iran nuclear negotiations, even as Vice President JD Vance had earlier described Iran's agreement to invite IAEA inspectors back into the country as a major milestone. The latest statement from Tehran's Foreign Ministry directly narrows the scope of that commitment, raising fresh questions about the practical implementation of any monitoring agreement.

Vance had announced that Iran agreed to invite IAEA inspectors back following negotiations held in Switzerland, describing it as the first step in permanently ending the nuclear weapons programme in Iran. President Trump further stated that Iran is expected to use released funds to purchase food and support its people, warning that failure to honour the agreement would prompt decisive action. However, Iran's Central Bank Governor, as reported by Tasnim News Agency, pushed back on key aspects of the U.S. characterisation of the deal, stating that remaining frozen assets will not be limited to essential goods purchases and that Iran can use the funds to buy other non-sanctioned goods.

Asset Oversight and Disputed Usage Terms

The Central Bank Governor further clarified that Tehran is not required to purchase U.S. agricultural goods under current agreements — directly contradicting earlier statements from Vance, who had said released funds would be directed toward the purchase of American soy, corn, and wheat. Vance had also clarified that both the U.S. and Qatar would retain oversight and approval authority over how any unfrozen assets are spent, and rejected reports suggesting the funds would go to militant groups. The conflicting accounts from both sides present an unresolved dispute over the scope and conditions attached to any asset releases.

The key points of contention between the two sides are summarised below:

Technical Talks and Regional Developments

Iran had begun identifying locations where enriched nuclear material is stored, aligning with IAEA oversight responsibilities, and technical talks between the parties were set to continue in the coming days and weeks. These developments had followed comments by Iranian Foreign Minister Seyed Abbas Araghchi regarding the U.S. lifting its naval blockade of the Strait of Hormuz and releasing frozen assets under a new memorandum of understanding. Araghchi had also highlighted a $300 billion reconstruction and development fund for Iran and the launch of a Lebanon deconfliction initiative. The Foreign Ministry spokesperson's latest statement, however, places a direct constraint on IAEA access, potentially limiting the effectiveness of any agreed monitoring framework.

Market Reaction

As the talks gained momentum in Switzerland, crude oil and gas prices continued sliding. At the time of writing, Brent crude oil was trading 1.49% lower at $76.29 per barrel, while the average gas price in the U.S. fell to $3.92 per gallon according to the AAA.