The International Atomic Energy Agency (IAEA) has formally referred Iran to the United Nations Security Council due to ongoing nuclear issues. This decision marks a significant escalation in the long-standing nuclear dispute between Iran and major global powers. The referral follows Iran’s limited cooperation with nuclear inspectors, which has hampered verification of its nuclear materials and stockpiles. Markets are pricing in an 11.5% chance of a US-Iran deal in 2026, reflecting increased perception of geopolitical risks.
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