Washington/Paris/Tehran: Iran’s nuclear talks, escalating tensions over its uranium enrichment, are driving volatility in global markets, with Iran’s stock markets rebounding and energy stocks facing risks, as the rial’s decline fuels economic pressures.
A summit on April 17, 2025, in Paris, attended by U.S. Secretary of State Marco Rubio, Special Envoy Steve Witkoff, Special Presidential Envoy Keith Kellogg, French President Emmanuel Macron, Ukrainian Foreign Minister Andrii Sybiha, and representatives from the United Kingdom, Germany, and other European nations, pressed for non-proliferation, and intensified Iran’s nuclear diplomacy. It is further set to shape global markets.
According to the United States Department of State, the US-led summit in Paris rejected Iran’s nuclear weaponisation, advancing ongoing talks to halt uranium enrichment and influencing global markets. The summit reinforced U.S. resolve, with the U.S. State Department spokesperson Tammy Bruce stating, “Iran will never have a nuclear weapon”.
The United States aims to stabilise global energy and technology markets through talks on Iran’s nuclear programme and a minerals agreement with the Democratic Republic of Congo (DRC). The U.S. secured a $1 billion minerals deal with the Democratic Republic of Congo (DRC) to stabilise technology supply chains, as per Senior Advisor to the US President Massad Boulos’s April 17, 2025, talks. The DRC deal includes a $100 million U.S. security pledge for 5,000 DRC troops, protecting battery supply chains, per the U.S. State Department. The DRC’s Entreprise Générale du Cobalt, managing 15-30% of artisanal cobalt, ensures ethical sourcing, as per Human Rights Watch.
Boulos met DRC President Felix Tshisekedi to secure cobalt and lithium, with the DRC holding 70% of global cobalt, as per the State Department. The U.S. seeks 20% of output to counter China’s 80% mine control, supplying 50% of lithium for technology markets. Boulos, visiting Kenya, Uganda, and Rwanda, with 30 armed groups reportedly displacing 500,000 people, stated that security is vital for mining stability. Instability risks $2 billion in mining losses, with 200 attacks in 2024, per Bruce’s April 10 briefing. A $100 million U.S. security pledge supports 5,000 DRC troops, per an April 10, 2025, State Department briefing. The DRC’s Entreprise Générale du Cobalt (EGC), controlling 15-30% of artisanal cobalt since 2021, enhances responsible sourcing, according to Human Rights Watch.
The DRC deal, creating 10,000 jobs, boosts the DRC’s $70 billion GDP, per the State Department. Japan’s $500 million DRC investment, targeting 10% of cobalt output, counters China’s $1.5 billion mining contracts. The U.N.’s $50 million DRC refugee aid stabilises mining regions, ensuring tech supply for Europe and Asia. France’s joint minerals fund supports these efforts.
The Paris summit linked nuclear risks to global stability, with Brent crude prices sensitive to Iran’s talks, as per the State Department. Iran’s talks involve 30% of its $400 billion economy, with sanctions costing $20 billion annually, per Bruce. Iran’s nuclear stance, with Supreme Leader Ali Khamenei expressing cautious optimism about the Oman talks on April 15, 2025, continues to drive market uncertainty, though global indices lack specific data tied to the talks.
Recent U.S. Treasury sanctions, imposed on April 8, 2025, targeted entities like Azarab Industries Co. for supporting Iran’s Atomic Energy Organisation (AEOI), blocking significant nuclear advancements, per the U.S. Treasury Department. Deputy Secretary Wally Adeyemo stated, “Iran’s nuclear advancements threaten international security”. Treasury’s February 23, 2025, sanctions on tankers like SC Moon, blocking $300 million, and March 27, 2025, designations, like PT. Bintang Samudra Utama, underscore enforcement, per the U.S. Treasury Department and Federal Register.
Iran-backed Houthi rebels in Yemen, targeting Red Sea shipping since October 2023, exacerbate market disruptions, per Reuters. Over 100 attacks, including sinking the Belize-flagged Rubymar in February 2024, misidentified as British, have killed four sailors and raised shipping costs, per the U.S. Defense Intelligence Agency. China, buying 90% of Iran’s oil, secures safe passage for its vessels, with U.S. officials accusing Chang Guang Satellite Technology of aiding Houthi attacks via imagery, per the U.S. State Department. U.S. strikes since March 2025 target Houthi sites, with Rubio linking Iran’s support to these threats.
These measures, coordinated with the United Kingdom and the European Union partners, reportedly contributed to Iran’s stock market volatility, with a rebound reflecting diplomatic optimism. The DRC deal, targeting cobalt and lithium, counters China’s mining dominance, securing supplies for U.S., European, and Asian tech markets, per the U.S. State Department, which pointed out that sanctions since 1979, costing Iran $2 billion annually in oil trade, maintain economic pressure.
Iran’s Foreign Ministry, on April 12, 2025, stated, “Sanctions have crippled our economy, but Iran’s resolve remains firm,” per Al Jazeera. Russia’s envoy, Mikhail Ulyanov, on April 13, supported Iran’s stance. Responding to the US media report that US President Donald Trump had asked Russian President Vladimir Putin to mediate negotiations with Iran, Russian Foreign Minister Sergey Lavrov today told journalists in Moscow in course of a joint press conference with the visiting Iranian Foreign Minister Sayyid Abbas Araghchi, that Russia was prepared “to help, to mediate, and to play any role that will be useful and acceptable to the United States from Iran’s point of view”. He concurred with Araghchi that an agreement focusing exclusively on nuclear matters was the way forward “if we want to reach an agreement”.
He informed that Iran was willing to look for an agreement as part of the Treaty on the Non-Proliferation of Nuclear Weapons. “This is a matter of principle that must be taken into account by those who are trying to saddle the talks with non-nuclear issues and thus create a situation that is fraught with risks,” Lavrov said.
Iran’s Deputy Foreign Minister Majid Takht-e Ravanchi noted that a “balanced accord is possible” without threats, while Ali Shamkhani, a member of the Expediency Discernment Council and political advisor of the Supreme Leader of Iran, highlighted “practical” proposals.
Talks in Oman on April 12, 2025, laid the groundwork for diplomacy, with Iran’s Foreign Minister Abbas Araghchi calling negotiations “constructive” and demanding economic relief from sanctions, per Iran’s Foreign Ministry. Foreign Ministry spokesperson Esmaeil Baghaei stressed assessing U.S. intent through actions. Supreme Leader Ayatollah Ali Khamenei, on April 15, 2025, described talks as “satisfactory” but cautious, as per IRNA. The U.S. Treasury, on March 19, 2025, sanctioned China’s Shandong Shouguang Luqing Petrochemical for purchasing $500 million in Iranian oil, blocking $200 million via vessels like MV Victorious, per the U.S. Treasury Department. Iran’s President Masoud Pezeshkian, on March 30, 2025, supported indirect talks, citing U.S. breaches since the 2018 Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, withdrawal. Iran’s stock markets rebounded after constructive April 12 talks in Oman, reflecting optimism for sanctions relief. The rial, at 1,043,000 to the dollar, down from 820,500 in December 2024, drives 35% inflation, fueling nuclear talks. Energy stocks, historically facing 5-10% weekly volatility during Iran tensions, remain sensitive to oil supply risks, with 30% of India’s oil imports at stake.
The Paris summit’s focus, U.N.’s $50 million DRC aid, and France’s minerals fund stabilise markets, as per the U.S. State Department.
– global bihari bureau
