Iran confirms no direct US talks, only intermediary messages

Iran’s Foreign Minister, Abbas Araghchi, has confirmed that there are no direct talks with the United States, only message exchanges via intermediaries. This announcement comes amid ongoing tensions and the absence of formal diplomatic relations between the two nations. Araghchi emphasized the lack of trust between the countries, indicating that current communications should not be mistaken for negotiations. The indirect communication is part of a broader pattern of diplomatic engagement through mediators, rather than direct dialogue. Key Takeaways Araghchi’s statement appears to suggest a decreased likelihood of a US-Iran meeting occurring in the UAE by the specified date, as there are no direct negotiations. The confirmation of only indirect communications is consistent with a scenario where peace talks are unlikely to occur by the end of August 2026. Market pricing indicates a moderate decrease in the probability of US-Iran diplomatic engagements, reflecting skepticism over direct talks. What to Watch Observers should monitor any official announcements from the US or Iranian governments regarding potential changes in communication strategy. Developments such as mediator interven...