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Iran Rejects US Talks, Sets Conditions
Iran’s foreign ministry spokesperson Esmaeil Baghaei stated on Monday that Tehran has not asked to resume talks with Washington, even as mediators continue to relay messages between the two sides. “It’s not in our DNA,” Baghaei said, adding that Iran currently has no direct talks with the US.
Baghaei also confirmed that the Strait of Hormuz remains closed and that the situation there has not changed, though talks between Iran and Oman over managing the strait have been positive. He said Iran would not allow the US to dictate the terms on which the war ends and alleged that some Gulf countries had been involved in Washington’s war on Iran, without providing further details.
Markets React to Weekend Pause in Hostilities
The weekend pause in US-Iran hostilities lifted risk appetite, with European shares climbing nearly 1% on Monday. The pan-European STOXX 600 was up 0.8% at 649.34 as of 0706 GMT.
Brent crude futures dropped 6% to around $90 a barrel, with energy stocks losing 2%. Investors also braced for a pivotal week of earnings from major US tech companies.
Iran Open to Reciprocal Pause
A senior Iranian official told Reuters that Iran would halt attacks if the US did the same, following Washington’s decision to pause its bombing campaign amid concerns over depleting its arsenal. The pause came after 13 nights of escalating strikes since an interim deal to end hostilities collapsed.
Strait of Hormuz Closure Impact
The closure of the Strait of Hormuz, which handles approximately one-fifth of the world’s oil supply, has contributed to significant volatility in global energy markets. Iran’s comments on Oman-mediated talks suggest some diplomatic activity on managing the strait, though no breakthrough has been announced.
