Potential US-Iran oil partnership amid rising war drums

Published February 20th, 2026 - 01:26 GMT
Potential US-Iran oil partnership amid rising war drums
Tankers are seen at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in the Sharjah Emirate, along the Strait of Hormuz, a waterway through which one-fifth of global oil output passes on June 23, 2025. (Photo by Giuseppe CACACE / AFP)

ALBAWABA - Iran has indicated that cooperation with the United States in the oil and gas sector remains a possibility, as nuclear negotiations between the two countries continue.

Iranian Oil Minister Mohsen Paknejad said that collaboration in the energy sector is not ruled out, describing the prospect as “possible” during remarks carried by the ILNA news agency. When asked directly about the likelihood of joint activity in oil and gas, Paknejad responded that “everything is possible,” while cautioning that translating such potential into concrete action remains uncertain.

He emphasized that the direction and outcome of ongoing negotiations will determine whether economic cooperation can move forward.

Broader Areas of Interest

In parallel comments, Hamid Qanbari, Iran’s deputy for economic diplomacy at the Foreign Ministry, said shared economic interests between Tehran and Washington have been discussed within the framework of current talks.

Speaking at a meeting at the Iranian Chamber of Commerce, Qanbari noted that discussions include oil and gas cooperation, development of shared energy fields, mining investments, and even potential aircraft purchases.

Diplomatic Momentum

The statements come amid renewed diplomatic engagement between Iran and the United States, with both sides closely watching developments in nuclear negotiations. Observers say the talks could shape not only the future of Iran’s nuclear program but also broader economic ties, particularly in the strategically important energy sector.

While no formal agreements have been announced, the remarks suggest that economic collaboration may be considered if diplomatic progress continues.