Iran is dangling a commercial bonanza of investments in its vast oil and gas reserves to entice US companies amid nuclear negotiations with the Trump administration. The proposal, not yet formally presented to Washington, represents Tehran's latest effort to secure a deal and stave off potential military conflict. Iranian Foreign Minister Abbas Araghchi will meet with US envoys Steve Witkoff and Jared Kushner in Geneva this week.

The overture targets Trump's preference for deals with immediate financial returns, with discussions centering on oil, gas, mining rights, and critical minerals. Tehran holds the world's third-largest oil reserves and second-largest gas holdings, offering potentially lucrative opportunities for US firms. Unlike the 2015 nuclear agreement, Iran is insisting on quick benefits for American businesses to secure a sustainable pact.

A major obstacle remains Iran's uranium enrichment capabilities, which the US insists must be permanently eliminated. Iran has rejected this condition as a red line for its leadership. Tehran also demands sanctions relief including the unfreezing of tens of billions of dollars in oil money held overseas. Trump has assembled the largest military build-up in the Middle East since 2003.