Mediators Qatar and Pakistan report "encouraging progress" in US-Iran peace talks, establishing a 60-day roadmap for a final deal. The agreement includes sanctions waivers for oil and petrochemical exports, a de-confliction cell for Lebanon, and mechanisms for safe passage through the Strait of Hormuz. Talks were temporarily paused after President Trump issued a statement, with the nuclear program excluded from discussions. The progress has boosted emerging market stocks to a record high and led to a fall in oil prices, though some hurdles remain in the broader US-Iran negotiations.

Mediators Qatar and Pakistan have announced "encouraging progress" in US-Iran peace talks, outlining a 60-day roadmap for a potential final deal. A preliminary agreement was signed last week, establishing a communication line for safe passage through the Strait of Hormuz. The roadmap includes sanctions waivers for oil and petrochemical exports and the creation of a de-confliction cell for Lebanon. This cell aims to ensure adherence to the termination of military operations in Lebanon and stop fighting in the region. Iran announced "major progress" in diplomatic efforts to end the war in Lebanon following high-level talks with the United States. The progress in these talks has led to a fall in oil prices and boosted emerging market stocks to a new record high. However, the US-Iran talks have faced obstacles, and the nuclear program was excluded from discussions. Talks were temporarily paused after President Trump issued a "threatening statement." Broader US-Europe discussions on China involve the RMB's exchange rate, and Washington has expressed concern over advanced chip technology reaching China.