Iran Says ‘No Deal’ Will Materialize If US Insists On Enriched Uranium Handover

Summary

• Iran Foreign Ministry says “no deal” will be reached if the US makes enriched uranium handover demand (Al Jazeera).
• Rubio confirms that there’s been no deal and that “we’re not there yet” – amid broader late morning pushback against morning optimistic, premature headlines.
• Saudi sources report Pakistan army chief & a Qatar delegation en route to Tehran, after which Field Marshal Munir arrives – calls trip ‘last ditch effort’ to avert war.
• Influential Iranian parliament member threatens ‘preemptive’ military action if preparations & movements by US forces in region is perceived. 

Iran FM: Agreement ‘Not Close’

Iran’s Foreign Ministry Spokesperson says cannot necessarily say that have reached a point where an agreement is close, Tasnim reports; focus of negotiations is on ending the war:

• Delegation from Qatar is currently holding talks with Iran’s foreign minister, but Pakistani side remains the mediator in negotiations.
• Details related to the Nuclear issue are not being discussed at this stage.

At around the same time as the above headline emerged, Sky News Arabia offered more optimism, citing a source who said that “broad outlines” have been reached in terms of an understanding on the nuclear issue.

Still, Al Jazeera reports that “no deal” will be reached if the US makes an enriched uranium handover demand. The Foreign Ministry maintains this will be a non-starter:

“We will not reach a conclusion if we try to delve into details related to highly enriched uranium in Iran,” the official IRNA news agency quoted him as saying.

Baghaei also said a Qatari delegation ‌is currently holding talks with Iran’s Foreign Minister Abbas Araghchi, ⁠adding ⁠Pakistan remains the main ⁠mediator in ⁠the ⁠negotiations.

Pakistani Army Chief Asim Munir has arrived in Tehran: ‘Last Ditch Effort’

So it looks like the rumors were true, after Pakistan officials first seemed to deny, and also said no comment. 

Army chief Field Marshal Syed Asim Munir, a key mediator between Iran and the US, has arrived in Tehran as the Iranians are said to be reviewing the latest updated Washington proposal for peace.

Pakistan FM: “Not Aware of Any Visit” to Iran by Army Chief

In a quick market update, Newsquawk says risk-off as reporters push back on optimistic geopolitical reporting + Rubio says not there on Iran deal.

And this bit of serious contradiction of earlier reports, via CBS:

Pakistan’s Foreign Ministry spokesman Tahir Andrabi said Friday that he was “not aware of any visit right now” when asked about reports by Iranian state media since Thursday that Army chief Field Marshal Syed Asim Munir, a key mediator between Iran and the U.S., was expected in Tehran.

“I am sure this will be announced in due course, if it is to be announced. I can neither confirm nor deny it now,” Abdrabi said.

“As regards the details of any agreement, our consistent position on this matter is that we do not talk of specifics. As a mediator and as a facilitator, it is the inherent ingredient of our mandate that we remain quiet on the individual positions and the process — also not ascribe any adjective to the process i.e. fast, slow, medium,” said Adrabi, adding that he would “stick to this consistent position.”

Pakistan, Qatar Delegations En Route to Tehran

Despite the attempts of some regional outlets to spin a narrative of imminent peace (which we saw yesterday), a senior Iranian source told Reuters on Thursday that “no deal had been reached with the US” – though he did also claim that “gaps had narrowed” – somewhat in line with the optimistic narrative.

The Islamic Republic is reportedly still reviewing the latest peace blueprint handed down by the Trump administration. However, this is the latest from a Wall Street Journal correspondent:

Source tells me the draft “deals” circulating are inaccurate.

— laurence norman (@laurnorman) May 22, 2026

Trump has meanwhile explicitly warned that further military action remains firmly on the table if Tehran doesn’t bend the knee. Yet there’s more ‘action’ taking place in the interim – as Pakistan’s army chief once again is on his way to Tehran, per Al Arabiya, and this – though already previewed the day prior – caused oil to dump amid the usual daily optimistic headlines emerging just ahead of the US market open. And in an apparent first, Qatar is sending a delegation too:

Futs hits session high on Reuters report Qatar has sent negotiating team to Tehran with the US team to help secure a deal to end war.

Field Marshal Asim Munir is expected to receive and relay Tehran’s answer to Washington on the latest.

Iran Threat of ‘Preemptive’ Military Action

Meanwhile, speaking to state television, Fadahossein Maleki, an influential member of Iran’s Parliament’s National Security and Foreign Policy Committee, strongly hinted that Iran might not wait around to be hit. When pressed on whether the ceasefire could collapse, Maleki bluntly stated, “Anything is possible.”

He took it a step further, openly floating the idea of an Iranian preemptive strike if Iran believed the Pentagon is moving its forces into position for resumption of military action.

“It could even come from Iran’s side, frankly,” Maleki warned, according to a report by Iran International. “If we feel that something is happening from a US base, Iran has the legitimacy to respond and prevent it.”

Despite these threats, US Secretary of State Marco Rubio has freshly said there has been some “slight progress” in talks with Iran to end the war, but followed by saying he did not wish to exaggerate how much.

Which helped push crude oil prices to the lows of the day…

More possibly premature reports of a ‘final draft’ being worked on…

🔴 BREAKING: The final draft of a possible agreement between the United States and Iran, mediated by Pakistan, is expected to be announced within hours, according to Al Arabiya sources. Its key terms include the following:

🔴 Final draft of possible US-Iran agreement mediated by… pic.twitter.com/Fb0gTmv8nd

— Al Arabiya English (@AlArabiya_Eng) May 22, 2026

Rubio Condemns Toll System: Unacceptable

Rubio is going full press against Iran’s efforts to impose a Hormuz toll system under its own permission protocols. “They’re trying to convince Oman, by the way, to join them in this tolling system in an international waterway. There is not a country in the world that should accept that. I don’t know of a country in the world that’s in favor of it, except Iran, but there’s no country in the world that should accept it,” Rubio said in Helsingborg, Sweden, on the sidelines of a NATO ministers meeting. 

“I don’t know of anyone in the world that should be in favor of a tolling system in an international waterway, that’s just not acceptable. It can’t happen,” Rubio continued.  

“If that were to happen in the Strait of Hormuz, it will happen in five other places around the world. Why would countries all over the world say, ‘Well, we want to do this too’? Not to mention how vital and critical that strait is to every country represented here today, but frankly, to countries not represented here today, particularly the Indo-Pacific,” he also said. Importantly, he also confirmed there’s as yet no deal – which should be obvious to all. He underscored “we’re not there yet”.

More Headlines

More latest developments via Newsquawk:

• Arabiya and Al Hadath exclusively report the text of the anticipated US-Iran agreement in case of its approval. The agreement includes: an immediate, comprehensive, and unconditional ceasefire on all fronts, a halt to military operations, ensuring freedom of navigation in the Arabian Gulf, the Strait of Hormuz, and the Sea of Oman and establishing a joint mechanism for monitoring and resolving disputes.
• US Secretary of State Rubio said there has been slight progress on Iran. Iran is trying to create a tolling system in the Strait, and no nation should accept that. We will be continuing talks with Iran, and there is progress.
• “A Pakistani source says that cautious optimism is the prevailing sentiment in the ongoing discussions regarding the planned agreement.”, Al Arabiya reported.
• Pakistan source said the US and Iran’s insistence on raising the bar for their demand regarding uranium and the Strait of Hormuz has led to a “crisis in negotiations”, Al Jazeera reported.
• Pakistani Interior Minister met again with Iran’s Foreign Minister to study proposals for resolving disputes between US and Iran, Al Jazeera reported, citing the Pakistani Embassy.
• Pakistan’s Interior Minister will remain in Tehran on Friday to continue consultations and meet with Iranian officials, while a high-level source said the Pakistani Army Chief would not travel to Tehran on Thursday night, according to Al Arabiya.
• Pakistan’s Foreign Ministry spokesperson said China supports mediation efforts and has presented a 5-point initiative.
• Iranian National Security Commission member Rezei posted “These negotiations are probably also a hoax and the Americans have no desire for diplomacy”; says “instead of diplomats, send missiles to negotiate.”
• Iranian Foreign Ministry said “Everything being circulated about the status of the negotiations is not accurate”, Al ArabyTV reported.
• UAE official said there is a ’50-50′ chance of US-Iran Strait of Hormuz agreement, AFP reported.
• Unconfirmed reports of explosions in the UAE, Tasnim reported. Details of the explosions have not yet been released.
• Iraqi ports said search teams have been mobilised within territorial waters after contact was lost with two ships, while they did not receive any distress calls from the two Bolivian-flagged ships with which contact has been lost.