NO IRAN-U.S. TALKS TO TAKE PLACE DURING FM ABBAS ARAGHCHI’S VISIT TO PAKISTAN, ONLY BILATERAL ENGAGEMENT, I WAS TOLD BY A SENIOR IRANIAN SOURCE. THE FM WILL VISIT MUSCAT AND MOSCOW TOO TO DISCUSS DEVELOPMENTS.

Iranian Foreign Minister Abbas Araghchi’s upcoming visits to Pakistan, Muscat, and Moscow will focus solely on bilateral engagements, with no planned talks involving U.S. representatives, according to a senior Iranian source. The absence of backchannel diplomacy with the U.S. reduces near-term prospects for sanctions relief or nuclear deal revival, maintaining downward pressure on Iranian risk-adjusted asset valuations. Geopolitical risk premia in energy markets remain supported through continued uncertainty around Iran-Russia coordination, particularly in light of potential joint strategic discussions in Moscow. Investors will monitor the outcome of the Moscow leg of Araghchi’s trip for signals on deepening Iran-Russia defense or energy cooperation, which could influence OPEC+ dynamics. The next key catalyst to watch is the official readout from Iran’s meeting with Russian counterparts, expected within 72 hours of the Moscow visit.

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