Iran has warned its enemies to prepare for potential ‘strategic surprises’ as it transitions from a defensive to an offensive military posture. This development comes amid the ongoing Iran-Israel conflict, which also involves the United States. Negotiations between Iran and the United States remain stalled, and missile-and-drone exchanges between Iran and Israel have been paused since June. Markets reflect limited confidence in a US-Iran deal in 2026, with a 21% probability for the inclusion of Iran Reconstruction Funding in any potential agreement.
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