China Urges Iran and US to Choose Peace, Return to Islamabad Memorandum

Beijing is positioning itself as a diplomatic broker in a conflict where it has no direct stake, which matters less for the Iran-US track than for China's standing as a mediator in energy-linked disputes. The reference to the Islamabad Memorandum signals that a prior framework still exists as a reference point, even if it has lost traction. For RWA and commodity markets, the relevant question is whether renewed dialogue changes risk pricing around Gulf energy flows. Whether either side engages is the open question.