International negotiations over reconstituting the 2015 Iran nuclear deal (JCPOA) were paused on 11 March after last-minute Russian demands threatened to derail the process, just as optimism was building that the parties were on the verge of an agreement.

With oil markets ravaged by the fallout from Russia’s invasion of Ukraine and the resultant economic sanctions on Moscow, Iran stands out as a potential source of sizeable production gains, but only if a deal to lift sanctions can be reached after a year of painstaking talks. (CONTINUED - 1117 WORDS)