Mediators pursue Iran-US deal in back channel diplomacy, FT reports
- The push from mediators comes after high-level negotiations over the weekend failed to reach a deal.
- But behind the scenes, there are “active talks” ongoing through Pakistan to extend the ceasefire and secure a more permanent deal, one Pakistani diplomat said.
- A second non-Pakistani diplomat said the US and Iran were still exchanging responses to a potential deal via mediators.
Context
The reports of back channel diplomacy between the US and Iran signal a potential thaw in relations, which is critical given the geopolitical tensions surrounding oil and Middle Eastern stability. If negotiations progress favorably, we could see immediate impacts on crude oil prices and related markets, as well as shifts in risk sentiment that may benefit havens or emerging market currencies.
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