Iran Says Diplomacy 'Active' After Receiving Mediator Proposals

The comments did not include new details on timing or concessions. Analysts following the situation said the rhetoric fits a pattern of delay. 'Iran wants to keep playing for time,' one note said, pointing to the country's strategy of leveraging control over the Strait of Hormuz. The same source said nuclear negotiations are unlikely to advance because both sides still hold key red lines.

For forex markets, the standoff keeps a floor under oil prices and supports the dollar against currencies tied to energy imports, such as the yen and the euro. The EUR/USD profile is sensitive to any shift in risk appetite. The latest diplomatic signals are not enough to unwind the geopolitical premium built into crude futures.

Baghaei did not provide a timeline or any specific offer.