On May 25, 2026, US Secretary of State Marco Rubio and Iranian Foreign Ministry spokesman Esmaeil Baqaei described broad agreements on a 14-point framework excluding nuclear issues, while stating that a final deal was not imminent. Oil prices fell more than 4 percent that day. The statements occurred against the backdrop of a US naval blockade imposed in April 2026 and a war that began on February 28, 2026.