Former U.S. President Donald Trump has downplayed the ongoing conflict with Iran, describing it as a « little war » as clashes between the United States and Iranian-aligned forces have resumed. The conflict, which began in February 2026, has seen periods of intense fighting followed by fragile ceasefires. Trump’s comments suggest a lack of urgency in diplomatic negotiations, potentially impacting the likelihood of reaching a comprehensive US-Iran deal including reconstruction funding. Market probabilities for Iran Reconstruction Funding being included in a potential deal have decreased from 11.5% to 9.5% in recent days.
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