Pakistan and Iran have announced significant progress in efforts to resolve the ongoing US-Iran conflict. Pakistan’s Chief of Defence Forces, Asim Munir, held talks with Iranian officials in Tehran to discuss preventing escalation and reopening the Strait of Hormuz. Markets show a 20% expected increase in the probability of a US-Iran diplomatic meeting by August 31, 2026, up from the current 2.5% probability. These developments highlight accelerating diplomatic initiatives involving key regional players.
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