US and Iran Make "Encouraging Progress" In Talks On Peace Deal, Will Continue Technical-Level Discussions This Week

Contrary to earlier reports from Iran media that US and Iran talks had concluded hours earlier, Bloomberg reported that the US and Iran made "encouraging progress" in talks on a peace deal and will continue technical-level discussions this week, mediators said, even as President Donald Trump again threatened strikes if Hezbollah keeps attacking Israel.

"Encouraging progress has been made including the creation of a mechanism for further technical talks," mediators Qatar and Pakistan said in a joint statement. The parties agreed on a roadmap toward reaching a final deal within 60 days.

The sides also established a communication line to avoid incidents and miscalculation, with the aim of ensuring safe passage for commercial vessels through the Strait of Hormuz, the mediators said. They also agreed to create a "de-confliction cell" involving the parties and Lebanon to help ensure adherence to the cessation of military operations there.

After rising in early trading following reports that Iran (almost but not really) had walked out on talks, crude oil turned lower and US stock-index futures pared losses after the statement.

Pakistani and Qatari mediation delivered major progress to end the Lebanon war, Iranian Foreign Minister Abbas Araghchi said in a post on X: "Tireless Pakistani and Qatari mediation has delivered major progress to end Lebanon War. Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for Iran. 1st real test: Lebanon deconfliction cell" the post said.

Things got off to a confusing start Sunday when Iranian media reported that Iran halted talks over Trump's latest threat. As the meetings got underway, Trump said in a social media post that he would strike Iran again if it doesn't "immediately stop their highly paid PROXIES in Lebanon from causing trouble."

He also warned Iran that the US might start collecting tolls if there's no deal. Speaking Sunday to Fox News, Trump said he told Iranian leaders directly that if they close Hormuz, "You won't even make it back" to Iran, using an expletive.

Some Fireworks

Al Jazeera is reporting that talks have 'concluded' - but is this in actuality a premature conclusion given all the tension and heated issues of disagreement which came to the forefront?

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