Iran’s President: US Must Lift Sanctions Before Talks

Pezeshkian's sequencing demand — sanctions relief before talks — effectively rules out near-term diplomacy on Washington's current terms, keeping the standoff in a holding pattern. The venue matters as much as the message: delivering it to Pakistan's army chief signals Iran is cultivating regional military channels rather than waiting on Western engagement. For energy and shipping markets, the relevant read is that no de-escalation path is visible, so geopolitical risk premia tied to the region are unlikely to compress soon. Whether Pakistan's role develops into genuine mediation or remains symbolic is the open question.