
2 min readNew DelhiAug 10, 2026 05:28 PM IST
US President Donald Trump has said that America is “low-keying” talks with Iran, highlighting Washington’s new tactic of deploying an economic pressure campaign as a key tool while halting the military campaign as the conflict between the two nations nears six months.
In an interview with news outlet Axios on Sunday, Trump said, “We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money.” The Iranian state media had earlier reported that no formal negotiations were underway between Washington and Tehran.
The development comes as the Iranian administration has maintained that no direct talks can take place with America until Washington honours the interim deal agreement signed in June. However, Iran has been negotiating with Oman on a plan to reopen the Strait of Hormuz.
Here’s what to know:
Depleting US weapons supply: The Pentagon has urged the US military contractors to accelerate weapons production as media reports stated that ammunition stockpiles were running low during the war with Iran. The development has “frustrated” President Trump as he aims to maintain American leverage over Tehran, CNN reported.
Iran’s leadership: Iran’s Supreme Leader Mojtaba Khamenei has appointed the Islamic regime’s stalwart Mohsen Rezaei as the new national security chief. A former Islamic Revolutionary Guards Corps (IRGC) commander, Rezaei was till now serving as the military advisor to Mojtaba, and is known for expressing his restrictions over negotiations with the United States.
Oil price surges: The prices of crude oil surged on Monday as uncertainty continued surrounding the reopening of the Strait of Hormuz. Iran, however, informed on Monday that a deal with Oman that will define new shipping lanes in the strategic waterway is in its final stages. Brent crude futures rose above $84 on Sunday, after trading below $80 last week.
Widening conflict: The West Asia conflict seems to be widening as the Iran-backed Houthi rebels group claimed they launched strikes against Saudi Arabian forces in Yemen and a major oil refinery.
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