The Associated Press is reporting what has to vie for the least shocking bit of news this week: Secretary of State John Kerry is preparing to extend the nuclear diplomacy with Iran beyond the deadline. The real news here–though again, not terribly surprisingly–is that the two sides are, according to the AP, getting ready to stop talking before the deadline actually hits. The talks have apparently become somewhat pointless at the current juncture:

Both sides had been prepared to talk until Sunday, the informal deadline for the negotiations. But two diplomats have told The Associated Press the talks will probably wind down Friday, because the differences won’t be bridged by Sunday.

The diplomats demanded anonymity because they were not authorized to divulge confidential information. One said the two sides opposed going on until the final hours of the informal deadline because they felt that would give the impression they were desperate for a solution.

Two things we learn from that excerpt. One, the two sides are so far apart that they have no hope of meeting the deadline. Two, they don’t want to “give the impression” they’re desperate for a deal because, let’s face it, this process is pretty much just for show–hence the two sides being so far apart as to make continued talks meaningless in the near term.

Why might that be? We know, from Kerry’s past experience letting the Iranians run circles around him, that the American side would like some kind of deal–something that kicks the can down the road but produces a piece of paper the Obama White House can pretend solves a problem. But going by the administration’s talking points, the Iranians should want a deal far more. After all, despite President Obama’s best efforts, the Congress has instituted some sanctions, though Obama has worked assiduously to delay them or water them down.

Well, about those sanctions. Eli Lake has some bad news:

As U.S. and allied negotiators try to hammer out a nuclear deal with Iran this week in Vienna, they will have less economic leverage on their Iranian counterparts than they had a year ago.

That is the conclusion of a new study from Roubini Global Economics and the Foundation for the Defense of Democracies, two groups that have analyzed Iran’s economy—and the international sanctions imposed on the country’s banks, oil exports and leading regime figures.

Their report concludes that in the last year as the United States and other Western countries have begun to ease some of the sanctions on Iran as an inducement to negotiate an end to the country’s nuclear weapons program, the Iranian economy has begun to recover.

The recovery of Iran’s economy is a good thing for the Iranian people, who suffered a currency in free-fall, staggering inflation and a contraction of the country’s Gross Domestic Product. But at the same time, the economic sanctions that President Obama has credited with forcing Iran to begin these negotiations have appeared to lose their bite, according to the study that is scheduled to be released Monday.

The administration has made this mistake elsewhere. When Kerry decided he wanted to solve the Israeli-Palestinian conflict, he found a Palestinian leadership hesitant to even come to the table. In order to get negotiations started, Kerry pressured the Israeli government to make concessions, which included releasing terrorist murderers.

Everyone not born yesterday understood what would come next: the Palestinians would accept the concessions, come to the table, and with the deadline approaching find some pretext to walk away, pocketing the concessions without giving anything up and without coming close to a deal. When the talks collapsed, there was a high degree of probability that a Palestinian faction would instigate violence. And that’s exactly what happened.

The idea of “preconditions for negotiations,” in whatever form, is usually counterproductive. There are always exceptions, of course. But generally speaking anyone who needs concessions to even come to the negotiating table doesn’t really want to be at the negotiating table. In the case of Iran, unless their leadership feels squeezed economically time will be on their side.

Obama and Kerry had leverage: economic sanctions. They used up much of that leverage just to get the Iranians to the table, and now the Iranian leadership wants to run out the clock. Thanks to the weakening of the sanctions, and the lack of stronger sanctions to begin with, they’re in a position to do so. And Kerry seems prepared to play along.