Pezeshkian Makes Sanctions Relief a Condition for Talks With Washington as Tehran Sticks to 7 Conditions

Key Facts

Iranian President Masoud Pezeshkian said in a post on X on Wednesday, October 21, 2026, carried by Tasnim news agency, that removing threats and sanctions in practice was a prerequisite for paving the way for dialogue with the United States. "Threats and sanctions must be removed in practice to pave the way for dialogue," he added, linking the prospect of negotiations to a change in the pressure imposed on his country. He criticized the combination of tighter sanctions and talk of negotiations, according to Press TV, saying: "You cannot intensify sanctions and pressure every day, close channels of communication and at the same time talk about negotiations." He had previously affirmed Iran's readiness for dialogue and refusal to submit to coercion during a meeting with the Georgian prime minister, according to an Agence France-Presse report. "We have always been ready for dialogue; they think they can force us to surrender, but we will not bow to coercion," he said at the time.

Pezeshkian's post followed his meeting with Pakistani army chief Asim Munir in Tehran as part of mediation efforts between Iran and the United States. During the meeting, the Iranian president said Washington must remove threats and sanctions before any talks, according to a report published by The National on October 20, 2026. Parliament Speaker Mohammad Bagher Ghalibaf told the Pakistani mediator that Tehran was sticking to its 7 previous conditions for talks with the United States, according to Iran's IRNA news agency. "Iran has nothing new beyond its seven previous conditions for talks with the United States," Ghalibaf said. Abbas Araghchi, for his part, said the Americans had informed Tehran that they agreed to the terms of its initiative but had requested additional provisions, according to his account carried by IRNA. On the nuclear issue, Iran's Supreme National Security Council Secretary Mohsen Rezaei told the Pakistani mediator that enriched nuclear material would remain inside Iran for domestic use. Rezaei described the material as "an important national asset," according to the Iranian news agency.

Alongside the Iranian president's remarks, the U.S. Treasury Department announced sanctions on shipping agents in Singapore and the UAE on October 21, 2026. The department said the agents directly supported Iran's shadow fleet operations. The measures included Wells Shipping, a Dubai-based maritime transport and logistics company, according to the U.S. statement. Treasury accused it of acting as a shipping agent for Sparrow Trading, which it described as a sanctioned front company that arranged purchases of Iranian petrochemicals. The crackdown also targeted Karnakis & Karnakis, a law firm based in Panama and Greece, which the department said had supported illicit Iranian shipping activity for years.

In banking, the U.S. Treasury added Iraq's International Development Bank for Investment and Finance to its sanctions list. The department said the bank provided financial facilitation services and access to dollars for Iran. The Office of Foreign Assets Control, known as OFAC, warned foreign financial institutions dealing with sanctioned Iranian financial institutions that they could be targeted "at any time without prior notice." The office urged those institutions to take immediate steps to end such activities and relationships. In oil markets, Brent crude stood at $108.79 a barrel in the October 20, 2026 session, down 0.69% on the day, according to historical prices published on Investing.com.

On diplomatic efforts, Qatar, which is also mediating in the conflict, said communication between Iran and the United States "has not stopped." It added that the aim was to reach a resolution as soon as possible, according to The National. Pakistani Deputy Prime Minister and Foreign Minister Ishaq Dar affirmed that Islamabad would continue its mediation between Washington and Tehran and support initiatives aimed at dialogue and a peaceful settlement, according to IRNA. On the implementation of banking sanctions, OFAC's General License FF allows the winding down of covered transactions with International Development Bank until October 30, 2026. The license requires any payments owed to blocked persons to be deposited into blocked accounts under Iran sanctions rules.