Iran has denied seeking direct talks with the United States and reaffirmed its control over the strategic Strait of Hormuz. This position comes amid tense military and diplomatic engagements involving Iran, the US and Israel since early 2026. Markets reflect a reduced likelihood of 6.5% that the US will announce an end to the Iranian blockade by July 31, 2026, down from previous higher estimates. This firmness from Tehran suggests a potential escalation in the region, affecting negotiation dynamics and prospects for diplomatic resolution.
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