Trump offers Iran economic relief for concrete nuclear concessions

• At the moment, the two sides are far apart on key issues. Iran wants talks to focus on the Strait of Hormuz and U.S. naval blockade, while the Trump administration is demanding that Iran agree to nuclear concessions.
• But the offer provides a glimmer of hope for a diplomatic breakthrough after Trump rejected Iran's most recent offer.

Driving the news: The mediators are meeting with Iranian Foreign Minister Abbas Araghchi in New York today to discuss a Qatari proposal that the parties have been negotiating the last few days.

• Qatari mediators are expected to meet with Trump administration officials later Monday or Tuesday to try to reach a breakthrough.
• A U.S. official with knowledge of the indirect talks called them "positive and constructive" and said Iran "has indicated they are flexible on the nuclear issues."
• But the official also noted there are still gaps and stressed there won't be a deal "unless the nuclear issues are addressed."
• "The sides still remain apart on the timing of the commitments and who takes which steps first," the official said.

What they're saying: "The Strait of Hormuz traffic continues to rise and the blockade and sanctions continue to degrade Iran's position. The U.S. position gets stronger every day and President Trump remains patient and fully committed to his goal that Iran never have a nuclear weapon," the official said.

• The person added that the White House is skeptical about Iran's promises and accused the Iranians of breaking the last memorandum of understanding by firing at commercial vessels in the Strait of Hormuz in July.
• "The U.S. needs assurances this time that Iran is serious and it's not just them trying to get out of the tough situation they are in," the official said.