Progress in Iran-US talks may depend on outcome of Trump's China visit, source says via CNN

The progress in U.S.-Iran talks appears contingent on the outcome of President Trump's upcoming meeting with China's Xi Jinping.

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  • Talks between the United States and Iran won’t make significant progress before President Donald Trump meets with his Chinese counterpart Xi Jinping later this week, according to a regional source close to the negotiations process.
  • The source told CNN that movement on the talks will “depend on the results of President Trump’s visit to Beijing.”  
  • The source pointed out that it was “very likely” that Iranian Foreign Minister Abbas Aragchi will be in Delhi for the BRICS Foreign Ministers’ meeting on Thursday and Friday - the same days that Trump is in Beijing.
  • The source told CNN that Araghchi’s presence at the BRICS meeting “is important,” as the Foreign Ministers of Saudi Arabia and Egypt will also likely be in attendance. Egypt and Saudi Arabia are among the countries facilitating backchannel dialogue between the US and Iran that is being mediated by Pakistan.
  • The Saudi and Egyptian foreign ministers have yet to confirm they will be attending the conference.
  • “China is going to be an important player in ensuring that the dialogue continues,” the source added.
Context

This suggests that geopolitical dynamics, particularly involving China as a key mediator, could significantly influence market sentiment and risk assets, especially in commodities and currencies like the USD and JPY. Traders should be wary of potential volatility depending on the developments from these diplomatic engagements.

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