President Hassan Rouhani declared that an agreement in principle has been reached with the United States under which Washington will remove a series of crippling sanctions against Tehran.

At a televised Cabinet meeting May 20, Rouhani said the relief will cover oil and petrochemical industries, shipping, insurance and banking sectors. The Iranian president noted there are only some details that need to be negotiated.

The comments came one day after Iranian negotiators concluded a fourth round of talks in Vienna with representatives from the United Kingdom, France, Russia, China and Germany. Nearly all the parties, including the EU representative — as the chairman of the meeting — signaled optimism toward a deal. The negotiators now return to their respective capitals for "final consultations" before clinching a final agreement.

The United States has been indirectly engaged in the talks, which are aimed at reviving the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA). Washington demands that Tehran resume its full compliance with the JCPOA, including by terminating its 60%-level uranium enrichment. In return, Iran has been demanding a full removal of all sanctions that were reinstated after the former US administration walked away from the accord in 2018.