Forecast Trend Report by Period
Prospects for progress in negotiations between the US and Iran may be delayed until after a summit between President Donald Trump and Chinese President Xi Jinping, with China’s role in the process also drawing scrutiny.
A Middle East-based source told Walter Bloomberg on May 11 that meaningful progress in US-Iran talks is unlikely before Trump meets Xi.
The source added that the course of the negotiations will depend on the outcome of Trump’s visit to China.
Around the same time, Iranian Foreign Minister Abbas Araghchi is set to attend a BRICS foreign ministers’ meeting in New Delhi.
Officials from Saudi Arabia and Egypt are also expected to attend. They are known to be involved in informal diplomatic channels under Pakistan’s mediation.
The source added that China is also playing a key role in keeping the dialogue phase alive.
Markets are watching how a Trump-Xi summit and diplomatic moves in the Middle East could affect US-Iran negotiations and the global oil market. The outcome of the leaders’ meeting and any progress in mediation efforts are seen as key variables.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
