Araghchi offered inspectors access to nuclear facilities in exchange for sanctions relief - report

While Araghchi did not speak explicitly about the state of Iran's economy, the diplomats told Bloomberg that the suggestion signals the extent of the country's economic struggles.

Iranian Foreign Minister Abbas Araghchi said that Iran would be willing to restore inspectors' access to bombed nuclear facilities in exchange for sanctions relief in private talks, Bloomberg reported on Thursday, citing people familiar with the discussions.

Araghchi suggested the agreement in private meetings with European and Middle Eastern diplomats at the United Nations while in New York for the General Assembly, diplomats told Bloomberg. 

The foreign minister also attempted to convince Europeans to reverse a UN decision to re-impose broad sanctions on Iran, which led to the sanctions 'snapback' last September, which the Europeans refused, diplomats said.

While Araghchi did not speak explicitly about the state of Iran's economy, the diplomats told Bloomberg that the suggestion that Iran would grant the access in exchange for sanctions relief signals the extent of the country's economic struggles. 

Iranian President Masoud Pezeshkian told CBS last week that Iran would be willing to allow inspectors in, but Araghchi had not previously raised the possibility during the talks.

Iranian inflation rises as oil exports halt

According to the report, inflation is now almost 90% year over year, and the rial has weakened 30% against the dollar as the sanctions have taken effect.

US President Donald Trump said that Iran had 301% inflation on Thursday, adding that their money had become "valueless."

The US blockade of Iran has stopped Iran from loading any crude oil onto tankers last month, according to Bloomberg.

Negotiators reportedly pushing Iran for nuclear program concessions in exchange for US peace talks

On Sunday, negotiators between Iran and the United States told the Wall Street Journal that they are pushing for Iran to make concessions on its nuclear program in exchange for reviving peace talks.

One high-level Middle East government official involved in the talks told the WSJ that Iran had been close to compromising on its nuclear program earlier this year during negotiations with US Vice President JD Vance, but would need explicit assurance that it would not be attacked by Israel after making a deal with the US.

Other officials said that Iran is confident it could withstand a long-term US blockade or renewed bombing campaign.

Arab officials and mediators also told the WSJ that Iran has not compromised at all since US President Donald Trump rejected the recent ceasefire offer, and that it wants the US to offer concessions before continuing any negotiations.