Trump weighs Iran deal as Netanyahu pushes for fresh strikes after US midterms

Washington signals progress in negotiations with Tehran, with Qatari mediators working on a proposed agreement.

Netanyahu reportedly presses Trump for a fresh military campaign after the US midterm elections. Photo: AP via PTI
8 min read  |  Published: 03 Nov 2026

Washington: US President Donald Trump and Vice President JD Vance have expressed cautious optimism about reaching a negotiated settlement with Iran, even as Israeli Prime Minister Benjamin Netanyahu pushes Washington to resume military operations after the US midterm elections.

Vance said on Monday that the administration believed diplomatic efforts had made progress and that a deal remained possible.

“We've had a number of good conversations with the Iranians,” Vance told reporters when asked about a letter he sent last week to Iran's security chief, Mohsen Rezaei. The White House has offered few details about the correspondence, while Trump said it focused on providing Iran with “medical supplies and various things”.

Vance said he had spoken with Trump about the negotiations and that both believed there were prospects for a settlement.

“The president and I both feel pretty good about the prospects for potentially coming to a negotiated settlement. We're going to keep on working at it,” he said.

The diplomatic efforts come as the region remains on edge over the possibility of renewed full-scale US operations against Iran. The eight-month-old war has rattled global markets and caused widespread damage in Iran, while Israel and some Middle Eastern allies are lobbying Washington over its next steps.

Trump says there is no rush to decide

Trump said he was in no hurry to decide whether to resume military operations, arguing that Iran was under growing financial pressure and wanted an agreement.

In a telephonic interview with Axios on Monday, Trump said the US had significantly weakened Iran's financial position but was willing to give diplomacy more time.

“One way or the other, we will do something, but there is no rush. We crippled them financially. They have no money, no gasoline and their people are getting very tired of it,” he said.

According to Axios, Qatari mediators have prepared a draft agreement outlining a three-day sequence of confidence-building measures intended to restart direct negotiations between Washington and Tehran.

A diplomat familiar with the developments said the mediators were awaiting feedback from both sides. Qatari mediator Ali al-Thawadi travelled to Tehran on Monday to continue discussions, and the diplomat said progress was being made.

Trump said the talks were going well, although he accused Iran of delaying the process.

“They want to make a deal more than they ever wanted,” he told Axios.

Trump also linked falling oil prices to expectations of a possible settlement. In a post on Truth Social, he claimed prices had dropped by nearly $10 a barrel because markets expected that a war with Iran would not resume.

“Oil Prices are DROPPING LIKE A ROCK, down almost $10 a Barrel, A RECORD, because people feel that there will not be a War with Iran. Iran wants a settlement as soon as possible. It could happen!” he wrote.

Trump reiterated that Washington would not allow Iran to acquire nuclear weapons and claimed that its military capabilities had been significantly weakened.

Netanyahu reportedly presses for another wave of strikes

Despite the diplomatic efforts, Netanyahu is pushing for another wave of strikes on Iran after Tuesday's US midterm elections, according to two regional officials and a third person familiar with the matter.

One of the officials said Netanyahu was working with senior US administration figures to persuade Trump to launch a quick but extensive air campaign. Trump has not appeared to make a decision, the official said.

Netanyahu pressed Trump to consider strikes during a phone call over the weekend, according to a person briefed on the conversation. Trump reportedly did not commit to military action.

A return to full-scale war could also help Netanyahu form an emergency government after he and his far-right allies lost their parliamentary majority in last week's elections.

Meanwhile, Qatari mediators have held two rounds of talks with Iranian officials, with more discussions planned for this week.

The officials said the proposed framework would see Iran cease attacks in the Strait of Hormuz in exchange for the US lifting its blockade on Iranian ports. They spoke on condition of anonymity because they were discussing classified briefings received from American and, in one case, Israeli officials.

Tehran says it is ready for diplomacy and confrontation

Iranian Foreign Minister Abbas Araghchi said on Monday that Tehran was prepared for both diplomacy and military confrontation “more than ever before”, adding that the next move depended on Washington's willingness to pursue negotiations.

Amid the diplomatic exchanges, Iran's Islamic Revolutionary Guard Corps (IRGC) Aerospace Force claimed it had shot down three US drones near the Strait of Hormuz.

According to Iranian state broadcaster Press TV, the IRGC said two US MQM-170 reconnaissance drones were brought down south of Qeshm Island using electronic warfare systems. It claimed the interceptions brought the total number of captured drones of that type to four.

In a separate statement, the IRGC Aerospace Force said it had intercepted and destroyed a US MQ-9 drone east of the Strait of Hormuz.

“The 55th advanced MQ-9 drone was tracked and brought down over the airspace east of the Strait of Hormuz by the Aerospace Force's newly developed air defense system, operating under the country's unified air defense network,” the IRGC said.

The claims have not been independently verified in the information provided.

The competing signals from Washington, Tehran and Israel come as diplomatic efforts continue to prevent a renewed escalation after the US midterm elections.

(With agency inputs from ANI and AP via PTI)

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