US seeks "Step-by-Step" agreement with Iran, reports ILNA citing Pakistani sources

The recurring pattern in such episodes is an initial crude bid fade on the prospect of sanctioned barrels eventually returning, tempered by the fact that past rounds have repeatedly stalled on sequencing disputes over which side moves first. The mechanism to isolate is that a step-by-step track, by definition, implies sanctions relief arrives in tranches rather than at once, so the supply response, if it comes, is gradual and back-loaded rather than a single wave of returning Iranian exports. The sourcing here matters: a semi-official Iranian agency citing Pakistani intermediaries fits the established pattern of both capitals signalling through proxies and friendly third parties before any direct channel is acknowledged, and such trial balloons have been walked back before. Worth watching is whether Washington confirms or denies the framing, whether enrichment or maritime security features as an early step, and any shift in tanker flows, freight rates and insurance premia on Gulf routes, which have historically been the first physical tells. As reported diplomacy rather than an agreed framework, this sits in the category of headline risk that has tended to fade without corroboration.