Given that several experienced Iranian political leaders have been killed in the war, it is expected that the Iranian delegation will be led by the parliament speaker and former commander of the Revolutionary Guard, Mohammad Baqer Qalibaf, along with Foreign Minister Abbas Araqchi.
Confirmation of the negotiations came after relief over the ceasefire between the United States and Iran gave way to concern as fighting continues across the region, with Israel launching its largest attacks on Lebanon to date, and Iran striking oil facilities in neighboring countries in the Gulf.
Global financial markets rose after Trump announced the agreement late Tuesday, two hours before the deadline he set for Iran to open the blocked Strait of Hormuz or face the destruction of its "entire civilization."
However, even as Israel and the United States paused attacks on Iran, Israel intensified its parallel war with Hezbollah in Lebanon, launching the fiercest strikes so far and sending huge plumes of smoke over Beirut as buildings collapsed. Israeli Prime Minister Benjamin Netanyahu stated that the ceasefire does not include Hezbollah and that Israel will "continue to target them."
Netanyahu said that Israel has achieved many of its goals in the war with Iran but still has others to accomplish. He noted that these could be achieved either through an agreement between the U.S. and Iran or by continuing the military campaign, emphasizing that Israel keeps its "finger on the trigger" and is ready to resume fighting "at any moment."
The Iranian news agency Tasnim, citing an unnamed source, warned that Iran would abandon the ceasefire if attacks on Lebanon continue.
Lebanese civil defense reported that 254 people were killed in Israeli attacks across Lebanon on Wednesday. The highest number of casualties was recorded in the capital Beirut, where 91 people died. Residents noted that some Israeli attacks were carried out without the usual warnings for civilians to evacuate.
Despite concerns over the durability of the ceasefire, Brent crude oil prices, which had risen more than 50% since the start of the war, fell by about 14% during the day to $95.20 per barrel at 17:20 GMT.
U.S. stocks rose close to their highest levels in the past month, joining a global wave of relief in the markets.