Iran and the United States signed a 14-point memorandum of understanding in mid-June 2026 that ended active hostilities, reopened the Strait of Hormuz, and launched a 60-day window for technical negotiations on a final agreement covering nuclear issues, sanctions relief, and regional ceasefires including Lebanon. As of June 21–22, talks in Switzerland have focused on sequencing, with Iranian negotiators insisting that clauses on Lebanese ceasefire, asset releases, and naval de-escalation must be implemented before nuclear discussions advance. Iranian officials temporarily withdrew from sessions in protest of U.S. statements before returning, while mediators from Qatar and Pakistan continue facilitating working groups. These frictions over implementation timelines and leverage points in the MOU directly shape trader assessments of any near-term Iranian announcement of withdrawal from the process.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · UpdatedIran suspends MoU commitments amid renewed US sanctions and military actions
August 15 dips to 6%1%
Iran announced suspension of its commitments under the MoU due to renewed US sanctions and military actions, signaling a significant setback to the negotiation process and reducing likelihood of a final agreement by mid-August.
Iran and Oman discuss agreement on Strait of Hormuz amid ongoing tensions
July 31 drops to 7%7%
Iranian and Omani officials met in Tehran to discuss a potential agreement regarding the Strait of Hormuz, indicating ongoing regional diplomatic efforts despite Iran's suspension of MoU commitments and withdrawal from negotiations.
Iranian Foreign Minister Abbas Araghchi confirms Iran's suspension of MOU commitments
July 31 dips to 9%2%
Iran's Foreign Minister Abbas Araghchi publicly confirmed the suspension of Iran's commitments under the MOU on July 20, reinforcing the official termination of Iran's participation in the negotiation process and solidifying the market's "Yes" outcome.
US President Trump warns of intensified strikes if Iran does not return to negotiations
July 31 dips to 11%1%
Following Iran's withdrawal announcement, President Trump threatened to escalate military strikes against Iran's infrastructure unless Iran resumed talks, increasing the risk of conflict and influencing market sentiment toward a confirmed withdrawal by Iran.
Iran declares suspension of MOU commitments, denies plans for negotiations
July 31 drops to 14%11%
Iran's Deputy Foreign Minister publicly stated that Iran had suspended its commitments under the MOU due to repeated US violations and denied any plans to continue negotiations. This statement was a political ratification of actions already underway but did not constitute a clear, official termination of participation in the negotiation process, maintaining market uncertainty.
Iran officially confirms withdrawal from MOU and all future negotiations with US
July 31 drops to 2%14%
On July 18, 2026, Iran's Deputy Foreign Minister Kazem Gharibabadi publicly confirmed Iran's suspension of commitments under the MOU and withdrawal from all future negotiations with the United States, reinforcing the definitive termination of participation in the negotiation process.
Iran confirms suspension of commitments under Islamabad MoU and all future US talks
July 31 drops to 12%7%
Iran's Deputy Foreign Minister Kazem Gharibabadi officially stated Iran had suspended all commitments under the Islamabad MoU and withdrawn from all future negotiations with the US, a clear and unambiguous termination of participation in the negotiation process.
Iran confirms suspension of MoU commitments and all future negotiations
July 31 drops to 7%12%
On July 18, Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed Iran's suspension of its commitments under the MoU and announced the end of all future negotiations with the US, solidifying Iran's termination of participation in the negotiation process.
Iran officially states withdrawal from MoU and all future negotiations with US
July 31 plunges to 3%15%
Iran's Deputy Foreign Minister Kazem Gharibabadi publicly declared Iran's suspension of commitments under the Islamabad MoU and withdrawal from all future negotiations with the United States, confirming a definitive termination of participation and reinforcing the market's low probability for withdrawal by July 31.
Iran suspends implementation of the MOU, citing US breaches and naval blockade
July 31 dips to 12%2%
On July 18, Iran's Deputy Foreign Minister Kazem Gharibabadi announced suspension of commitments under the Islamabad Memorandum due to alleged US violations, including a naval blockade, marking a definitive end to Iran's participation in the negotiation process and confirming the market's "Yes" resolution.
Iran officially declares termination of participation in MOU negotiations and all future talks
July 31 plunges to 3%16%
On July 18, Iran's Deputy Foreign Minister Kazem Gharibabadi announced Iran's official withdrawal from the Islamabad Memorandum and all future negotiations with the US, confirming a definitive end to the negotiation process and solidifying market resolution to 'Yes'.
Iran announces official withdrawal from MOU and all future negotiations
August 15 plunges to 17%22%
On July 18, 2026, Iran's Deputy Foreign Minister Kazem Gharibabadi officially announced Iran's withdrawal from the MOU and all future discussions with the United States, marking a definitive end to Iran's participation in the negotiation process.
Iran launches ballistic missile at US base in Saudi Arabia amid rising tensions
August 15 dips to 22%1%
On July 18, 2026, Iran fired a ballistic missile at a US base in Saudi Arabia, marking a significant escalation in hostilities and underscoring the collapse of diplomatic efforts under the MoU, further reducing market confidence in ongoing negotiations.
Iran confirms suspension of MOU commitments and withdrawal from all future negotiations
August 15 plunges to 24%18%
On July 18, 2026, Iran officially stated it had suspended its commitments under the MOU and withdrawn from all future negotiations with the US, confirming a definitive end to participation in the negotiation process and solidifying the market's 'Yes' resolution trigger.
Iran officially announces suspension of MoU commitments and withdrawal from all future negotiations
Iran's Deputy Foreign Minister Kazem Gharibabadi officially declared Iran's suspension of commitments under the MoU and withdrawal from all future negotiations with the United States, confirming a definitive end to Iran's participation in the negotiation process.
Iran confirms official withdrawal from MOU and all future US negotiations
July 31 plunges to 9%18%
Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed Iran's suspension of commitments under the Islamabad MOU and official withdrawal from all future negotiations with the United States, solidifying the termination of Iran's participation in the negotiation process.
Iran suspends all MoU commitments, accuses US of violations
July 31 drops to 25%12%
Iranian Deputy Foreign Minister Kazem Gharibabadi announced suspension of all commitments under the MoU, citing US violations such as airstrikes and sanctions, reinforcing Iran's official termination of participation in the negotiation process.
Iran's Supreme Leader and officials declare US-Iran MoU no longer in effect
August 15 drops to 23%13%
On July 17-18, 2026, Iranian Supreme Leader Mojtaba Khamenei and senior officials publicly declared the US-Iran MoU terminated, citing US violations and suspending commitments, signaling a definitive end to negotiations and causing a significant market price drop.
Iran formally abandons June memorandum, declares complete freedom of action
July 17 plunges to 3%21%
On July 15, 2026, Iran declared the June memorandum void and stated its armed forces have complete freedom of action, with its top negotiator describing the conflict as an essential war with America. Iran's Foreign Ministry spokesman said Tehran had abandoned its commitments because the US reneged on its side and had no plans for further talks, signaling a de facto termination of participation though no formal withdrawal announcement was made.
Iran confirms it no longer considers itself bound by June 17 peace memorandum after US airstrikes
August 15 plunges to 14%23%
Following fresh US airstrikes and a renewed naval blockade, Iran stated it no longer considers itself bound by the June 17 MOU, reinforcing its withdrawal announcement and escalating tensions, further reducing market confidence in ongoing negotiations.
Iran formally abandons June MoU, declares termination of negotiation participation
July 17 plunges to 2%22%
On July 15, 2026, Iran's Foreign Ministry spokesman announced that Iran had abandoned the June memorandum of understanding due to repeated US attacks and violations, declaring no plans for further talks and effectively terminating participation in the negotiation process.
Iran vows full control over Strait of Hormuz, rejects further negotiations
July 31 drops to 22%8%
Following its withdrawal from the MoU, Iran declared it would exercise full sovereignty over the Strait of Hormuz and stated it would never request negotiations with the US again, signaling a firm and official termination of the negotiation process.
Iran declares it no longer bound by June 17 peace memorandum after US airstrikes and blockade
August 15 plunges to 24%16%
Following fresh US airstrikes and a renewed naval blockade, Iran publicly stated it no longer considered itself bound by the June 17 peace memorandum, reinforcing its withdrawal from the negotiation process and escalating tensions.
Iran officially withdraws from MOU citing US airstrikes and blockade
July 24 drops to 3%9%
On July 15, 2026, Iran announced it no longer considered itself bound by the June 17 peace memorandum following fresh US airstrikes and a renewed naval blockade. This was a definitive termination of participation in the negotiation process, fulfilling the market's resolution criteria.
US President Trump declares ceasefire with Iran 'over' and threatens strikes
July 31 plunges to 16%15%
Following Iran's withdrawal announcement, US President Donald Trump declared the ceasefire over and threatened a broader military campaign against Iran if it did not return to negotiations. This escalated tensions and confirmed the breakdown of the MoU framework.
Iran declares it no longer bound by June 17 peace memorandum after US airstrikes
July 31 drops to 26%5%
Following renewed US airstrikes and naval blockade, Iran publicly stated it no longer considered itself bound by the MoU, reinforcing its withdrawal and signaling a definitive end to negotiations. This announcement further decreased market confidence in the continuation of talks.
US-Iran ceasefire collapses after Iran strikes commercial vessels in Strait of Hormuz
August 15 drops to 31%10%
Following Iran's withdrawal announcement, Iran struck three commercial vessels bypassing its preapproved route in the Strait of Hormuz, prompting US retaliatory strikes and further undermining the MoU and ceasefire.
Iran formally abandons June MoU, declares end to participation in negotiations
July 24 drops to 9%14%
On July 15, 2026, Iran's Foreign Ministry spokesman officially announced that Iran had abandoned its commitments under the June MoU due to repeated US attacks and lack of US compliance. Iran declared the memorandum void and stated it had no plans for further talks, effectively terminating its participation in the negotiation process and fulfilling the market's resolution criteria for withdrawal.
Iran officially withdraws from US-Iran MoU, accuses US of violating ceasefire
July 31 drops to 31%9%
Iran's Deputy Foreign Minister Kazem Gharibabadi announced Iran's full withdrawal from the June 17 MoU, citing US naval blockade and airstrikes as violations. This marked a definitive termination of Iran's participation in the negotiation process, causing a sharp drop in market prices for continued negotiations.
Iran officially withdraws from MOU, accuses US of violating ceasefire
July 24 plunges to 1%24%
Iran's Deputy Foreign Minister Kazem Gharibabadi announced Iran's full withdrawal from the June 17 MOU, accusing the US of violating the agreement by reinstating a naval blockade on Iranian ports and ships. This marked a definitive end to Iran's participation in the negotiation process, causing a sharp drop in market probabilities for withdrawal by July 24 and July 31.
Iran announces full withdrawal from MoU, accuses US of violating ceasefire
July 31 plunges to 30%15%
Iran's Deputy Foreign Minister Kazem Gharibabadi publicly declared Iran's termination of participation in the MoU negotiations, citing US violations including a naval blockade, marking a definitive end to Iran's engagement in the negotiation process.
Iran officially announces withdrawal from MoU, accuses US of violating ceasefire
August 15 dips to 39%1%
On July 14, 2026, Iran's Deputy Foreign Minister Kazem Gharibabadi publicly declared Iran's full withdrawal from the June 17 MoU, citing US violations including a naval blockade, marking a definitive end to Iran's participation in negotiations and causing a sharp market reaction.
Iran Deputy Foreign Minister declares MOU in crisis phase amid US violations
July 24 drops to 12%13%
On July 14, 2026, Iran's Deputy Foreign Minister Kazem Gharibabadi declared the MOU in a 'crisis phase' after repeated US violations, signaling a suspension of commitments though not a full withdrawal. This marked a significant escalation in tensions and uncertainty about the negotiation process.
Iran officially withdraws from MOU, accuses US of violating ceasefire and naval blockade
August 15 jumps to 45%8%
Iran's Deputy Foreign Minister Kazem Gharibabadi announced Iran's full withdrawal from the MOU, citing US violations including a naval blockade and asserting full sovereignty over the Strait of Hormuz. This official termination announcement caused a significant spike in market probability for withdrawal.
Iran announces full withdrawal from MOU, accuses US of violating ceasefire
August 15 plunges to 7%30%
On July 14, 2026, Iran officially announced its withdrawal from the June 17 MOU, accusing the US of violating the agreement by reinstating a naval blockade and declaring full sovereignty over the Strait of Hormuz. This marked a definitive end to Iran's participation in the negotiation process, causing a sharp market reaction.
Iran announces withdrawal from MOU, accuses US of violating ceasefire and imposing blockade
August 15 jumps to 43%5%
On July 14, Iran officially withdrew from the June 17 MOU, citing US violations including a naval blockade and airstrikes, and declared full control over the Strait of Hormuz, marking a definitive end to Iran's participation in negotiations and sharply increasing market withdrawal probabilities.
Iran announces withdrawal from MoU, accuses US of violating ceasefire
July 31 plunges to 16%24%
On July 14, Iran officially announced its withdrawal from the June 17 MoU, accusing the US of violating the agreement by reinstating a naval blockade and conducting airstrikes. Iran declared it would exercise full sovereignty over the Strait of Hormuz and would not request further negotiations, marking a definitive termination of participation.
Iran agrees to return of UN nuclear inspectors as part of US deal
July 31 plunges to 16%29%
Iran agreed to allow UN nuclear inspectors back into the country as part of the MOU implementation, signaling commitment to the 60-day negotiation framework. This diplomatic progress caused a sharp drop in the market's probability of Iranian withdrawal by July 31.
Iran announces withdrawal from MoU, accuses US of violating ceasefire
July 24 plunges to 4%21%
Iran officially announced its full withdrawal from the Memorandum of Understanding, accusing the US of violating the agreement by reinstating a naval blockade and asserting full sovereignty over the Strait of Hormuz. This marked a definitive end to Iran's participation in the negotiation process, significantly impacting market expectations.
Iran withdraws from MoU, accuses US of violating ceasefire and imposes control over Strait of Hormuz
August 15 plunges to 10%35%
Iran officially announced its full withdrawal from the June 17 MoU, accusing the US of violating the agreement by reinstating a naval blockade. Deputy Foreign Minister Kazem Gharibabadi declared Iran would exercise full sovereignty over the Strait of Hormuz, marking a definitive end to Iran's participation in negotiations and causing a sharp market drop.
Iran Foreign Ministry States No Negotiations Scheduled in Coming Days
July 31 drops to 17%8%
Iranian Foreign Ministry spokesperson Esmaeil Baqaei stated that no further talks were scheduled in the near term, focusing instead on implementation, which led to a stabilization of the market prices.
Iranian President urges Supreme Leader to accept MoU amid internal divisions
July 31 jumps to 37%12%
Iranian President Masoud Pezeshkian, concerned about the US naval blockade and economic situation, urged Supreme Leader Mojtaba Khamenei to accept the MoU despite opposition from hardliners, highlighting internal regime tensions affecting negotiations.
Iran launches missile and drone attacks on US military bases in Bahrain and Kuwait
July 31 surges to 38%16%
On July 13, Iran's IRGC launched missile and drone strikes on US military facilities in Bahrain and Kuwait in retaliation for US strikes on Iranian targets, escalating tensions but not officially terminating negotiations. This caused market volatility and a temporary increase in perceived withdrawal risk.
President Trump declares ceasefire over but agrees to continue talks with Iran
August 15 drops to 22%12%
On July 10, 2026, President Trump announced on social media that the ceasefire was over but stated that talks with Iran would continue. This mixed message reflected ongoing tensions but no official Iranian withdrawal announcement.
Iranian Foreign Ministry spokesperson says no talks scheduled in coming days
July 24 dips to 10%2%
Iranian Foreign Ministry spokesperson Esmaeil Baqaei stated that no talks were currently scheduled for the coming days, emphasizing focus on MOU implementation rather than negotiation sessions. This indicated a pause but not a termination, contributing to low withdrawal probability.
US launches second round of airstrikes on Iran; Iran retaliates with missile strikes
July 31 dips to 5%2%
On July 9, 2026, the US conducted airstrikes on Iranian targets, prompting Iran to retaliate with missile and drone attacks on Gulf states, escalating tensions but without an official Iranian withdrawal announcement, causing market volatility.
Iran fires missiles at US military bases violating MOU ceasefire commitments
July 31 jumps to 25%9%
On July 8-9, Iran launched missile and drone attacks on US military sites in Gulf states, violating the ceasefire terms of the MOU and escalating tensions, which contributed to market uncertainty but did not constitute official withdrawal.
Doha-mediated negotiation track suspends talks through Khamenei funeral
July 10 plunges to 2%17%
The Doha-mediated negotiation track formally announced suspension of talks through the Khamenei funeral period, separating diplomatic channels from military operations temporarily. This pause was not a definitive termination of negotiations by Iran.
US and Iran exchange attacks, Trump declares MoU 'over' but allows negotiators to continue
August 15 drops to 22%12%
Following military exchanges between US and Iran, President Trump declared the MoU 'over' on July 8 but indicated US negotiators could continue talks. This increased uncertainty but did not constitute an official Iranian withdrawal, causing market fluctuations.
US President Trump declares MoU with Iran 'over' after Iranian attacks on shipping
August 15 jumps to 30%10%
Following Iranian attacks on commercial shipping in the Strait of Hormuz, US President Trump declared the June 29 MoU 'over' and expressed unwillingness to continue dealing with Iran's regime. Despite this, no official Iranian announcement of withdrawal from negotiations was made, leaving market probabilities unchanged.
Attack on LNG tanker in Strait of Hormuz marks first shipping attack since late June
July 31 drops to 7%7%
An attack on a liquefied natural gas tanker in the Strait of Hormuz, implied to be by Iran, increased regional tensions but did not coincide with any official Iranian announcement terminating negotiations.
Donald Trump Declares US-Iran Memorandum of Understanding is Over
July 31 surges to 24%15%
Following renewed military exchanges, President Trump declared the MOU was 'over' and expressed pessimism about negotiations, causing a sharp spike in the market's withdrawal probability across multiple timelines.
President Trump declares the MOU "over" after Iran allegedly strikes targets in the Strait of Hormuz
August 15 plunges to 24%15%
On July 8, 2026, President Trump announced the end of the MOU, citing Iranian attacks in the Strait of Hormuz, which increased market uncertainty and caused a sharp drop in the probability of Iran's withdrawal announcement by the August 15 deadline.
President Trump declares US-Iran ceasefire 'over' but negotiations continue
July 31 dips to 23%2%
US President Donald Trump announced that the ceasefire with Iran was over following renewed strikes, yet stated that negotiations could continue, reflecting a deteriorating but not fully collapsed diplomatic process.
Trump Declares US-Iran MOU 'Over' Following Exchange of Military Attacks
August 15 drops to 20%14%
President Donald Trump declared that the MOU with Iran was 'over' following fresh military exchanges, effectively ending the bilateral framework from the U.S. side. This shifted the likelihood of a unilateral Iranian withdrawal announcement, causing the August 15 and July 10 contracts to drop as the entire diplomatic framework collapsed.
Iran denies plans for technical talks with US, prioritizes MoU implementation
July 17 drops to 15%9%
On July 7, 2026, Iranian Foreign Ministry spokesperson Esmail Baghaei stated no negotiation meetings with the US were scheduled in the coming days, emphasizing focus on implementing the MoU and releasing frozen assets. This indicated a pause but not a termination of negotiations, contributing to market price declines.
Iranian Foreign Minister says no final agreement without Israeli withdrawal from Lebanon
July 24 drops to 13%12%
On July 7, Iranian Foreign Minister Abbas Araghchi stated Iran would not resume negotiations until a ceasefire and Israeli withdrawal from Lebanon were achieved, signaling conditional engagement but not official withdrawal. This statement contributed to market uncertainty and a drop in withdrawal probability.
US-Iran exchange of fire escalates amid revoked US sanctions waiver for Tehran
July 10 drops to 5%14%
On July 7, hostilities resumed with US strikes on Iranian assets and the US Treasury revoking a sanctions waiver, increasing tensions but Iran did not officially terminate negotiations, causing market volatility.
Iranian regime officials criticize MOU framework, demand US and Lebanon abandon ceasefire efforts outside negotiations
July 31 drops to 14%5%
Iranian officials publicly challenged the legitimacy of the MOU framework and demanded cessation of ceasefire efforts outside the negotiation process, reflecting internal opposition but no official withdrawal announcement.
US President Trump declares Iran ceasefire 'over' and threatens strikes
July 31 rises to 8%1%
On July 7, 2026, President Trump declared the ceasefire with Iran over and threatened military strikes targeting Iranian infrastructure if Iran did not return to negotiations, escalating tensions and undermining the MoU.
Iranian Foreign Minister says no resumption of talks without Israeli withdrawal from Lebanon
July 31 plunges to 3%15%
Iran's Foreign Minister Abbas Araghchi stated that Iran would not resume negotiations unless a ceasefire and Israeli withdrawal from Lebanon were achieved, signaling conditional engagement but not official withdrawal, contributing to market uncertainty and low withdrawal probability.
Iran resumes attacks on commercial vessels in Strait of Hormuz
July 31 dips to 25%3%
Iranian forces attacked commercial vessels using the southern Omani route to enforce control over the Strait of Hormuz, prompting US military strikes and raising doubts about the durability of the MoU and negotiations.
Iranian Foreign Minister states no resumption of negotiations without ceasefire in Lebanon
July 31 jumps to 25%6%
On July 7, Iran's Foreign Minister Abbas Araghchi declared that Iran would not resume negotiations until a ceasefire and Israeli withdrawal from Lebanon were achieved, signaling a pause but not termination, causing market uncertainty.
Iranian foreign minister ties resumption of talks to halt in US threats
July 7 dips to 0%1%
Iran's foreign minister stated that negotiations on a final deal would not begin if US threats continued, linking the resumption of Doha-mediated talks to a cessation of hostile rhetoric. This conditional stance did not constitute termination, further lowering market odds for withdrawal by July 7.
Iranian Foreign Ministry spokesperson says no talks scheduled in coming days
Iranian Foreign Ministry spokesperson Esmaeil Baqaei stated that no talks are currently scheduled for the coming days, emphasizing Tehran’s focus on following up on MOU implementation rather than new negotiations. This statement did not indicate termination of participation, so withdrawal probability remained low.
IRGC representative warns of possible leverage if US breaches MoU
July 31 dips to 7%2%
The ISW reported a letter from Sadeghi to IRGC commanders warning that the regime would act on the MoU’s terms but also hinting at possible leverage if the US violated it. The ambiguous tone contributed to the final dip to 7 % on July 5.
Iranian officials emphasize unity and support for MoU amid factional disputes
Senior Iranian officials sought to contain factional disputes over Supreme Leader Mojtaba Khamenei’s position on the MoU, affirming his authorization of the agreement despite having a different opinion in principle.
Vance says talks will resume after Khamenei’s funeral; Iran to charge Hormuz fees
July 7 dips to 1%1%
Vance’s comments on July 4 that talks would resume after the late Supreme Leader’s funeral, combined with Iran’s announcement that it would charge Hormuz fees, signaled a continuation rather than a termination, reinforcing the market’s low Yes odds for the July 7 outcome.
Iranian Foreign Ministry states no negotiations scheduled in coming days
July 17 plunges to 7%17%
Iranian Foreign Ministry spokesperson Esmaeil Baqaei said no talks are currently scheduled for the coming days, emphasizing focus on MOU implementation rather than termination. This statement did not constitute a withdrawal announcement, maintaining low market probabilities for withdrawal.
Iran's foreign minister states no deal without Israeli withdrawal from Lebanon
July 31 drops to 7%7%
Iran's foreign minister publicly declared that no comprehensive deal would be reached without Israeli Defense Forces withdrawing from Lebanon, a condition not recognized by the US or Israel. This hardline stance complicated negotiations but did not constitute an official withdrawal, contributing to market pessimism about Iran's continued participation.
Iran's Foreign Minister demands Israeli withdrawal from Lebanon as precondition for deal
July 31 dips to 7%4%
On July 3, Iran's Foreign Minister publicly stated no comprehensive deal is possible without Israeli Defense Forces withdrawing from Lebanon, a position disputed by the US and Israel, increasing tensions but not constituting withdrawal from negotiations.
Iran demands Israeli withdrawal from Lebanon as precondition for deal
July 7 dips to 1%1%
Iran stated no comprehensive deal would be reached without Israeli withdrawal from Lebanon, a point not included in the MoU, complicating negotiations and contributing to market pessimism about Iran's continued participation.
Iran reiterates that Israeli forces in Lebanon violate MOU terms
July 7 dips to 1%2%
A follow‑up statement from the ministry reiterated that Israel’s presence in Lebanon was a breach of the MOU, confirming Iran’s hardline stance but still not amounting to a formal withdrawal, keeping the “Yes” probability at 1 % for the July 7 outcome.
Iran says new U.S.–Israel‑Lebanon pact breaches MOU, stresses compliance
July 7 dips to 3%2%
CNN reported that Iran’s foreign minister accused a new U.S.–Israel‑Lebanon agreement of violating the MOU, but again did not announce a withdrawal. The market’s “Yes” odds fell to 3 % for the July 7 outcome.
Iranian negotiators pause diplomacy ahead of Supreme Leader Khamenei’s funeral
July 31 dips to 8%3%
Iran paused diplomacy with the US for the funeral of Supreme Leader Ayatollah Ali Khamenei, with mediators stating talks were positive and would continue at the earliest possible time after the funeral.
Qatar announces conclusion of Doha talks with Iranian and US delegations
July 31 dips to 16%3%
Qatari Foreign Ministry announced the conclusion of separate talks with Iranian and US delegations in Doha, reporting positive progress on implementing the Islamabad MOU and agreement to continue negotiations. This indicated ongoing engagement and reduced market expectations of Iranian withdrawal.
US and Iran conclude indirect talks in Doha with positive progress but no breakthrough
July 7 dips to 1%2%
US and Iranian officials held indirect technical talks in Doha focusing on implementation issues like frozen assets and maritime traffic, reporting positive progress but no major breakthroughs. The talks paused ahead of Iran's Supreme Leader's funeral, with no indication of Iran terminating negotiations.
Iran issues fresh warning on Strait of Hormuz, emphasizing control over shipping routes
July 31 dips to 7%4%
Iran warned vessels to follow Tehran-designated routes through the Strait of Hormuz, threatening immediate response to violations. This underscored ongoing tensions over the strait's control, complicating negotiations and contributing to market uncertainty about Iran's commitment.
Iran foreign ministry says no new nuclear concessions, urges U.S. compliance
July 7 dips to 1%1%
Iran’s foreign ministry confirmed no new nuclear concessions and stressed it would not restart negotiations until the U.S. fulfilled its obligations, a subtle back‑off that pushed the market’s Yes probability toward the low single‑digit range (1 % on July‑2).
Iranian negotiators emphasize conditions for MOU implementation, deny plans for direct US talks in Doha
July 31 drops to 19%7%
Iranian Parliament Speaker and chief negotiator Mohammad Bagher Ghalibaf stated Iran's conditions for MOU implementation and clarified that technical talks in Qatar were not direct negotiations with the US, indicating a pause but not termination.
US and Iran hold indirect technical talks in Doha mediated by Qatar and Pakistan
July 7 drops to 2%12%
On July 1, 2026, US and Iranian officials engaged in indirect, lower-level technical talks in Doha through mediators, focusing on frozen assets and the Strait of Hormuz, indicating ongoing negotiation efforts without official withdrawal.
Iran announces communication channel with US to report MoU breaches
Iran declared it would establish a communication channel with the US to report breaches of the MoU, signaling continued engagement and commitment to the negotiation process, which helped maintain low market probabilities of withdrawal.
Iran opens communication channel on MoU after Doha talks
July 7 dips to 1%1%
Al Jazeera reported Iran’s Deputy Foreign Minister Kazem Gharibabadi announcing a communication channel for the MoU after Doha talks, confirming continued participation and further lowering the Yes odds to 1 % on July 3.
US Vice President JD Vance praises progress in indirect talks in Doha
July 7 drops to 1%13%
Vance described the US as having 'all the cards' in negotiations and hailed the progress made in indirect talks in Doha, despite Iran denying direct talks with the US. This maintained some optimism but did not indicate Iran's withdrawal.
US and Iranian negotiators meet in Doha to discuss implementation of MOU
Negotiators from both sides separately met with mediators in Doha to discuss unfreezing Iranian assets and other MOU elements, showing continued engagement without official termination of negotiations by Iran, which kept market prices for withdrawal low.
Iran announces plan to open communication channel with US on MoU breaches
On July 1, Iran's Deputy Foreign Minister announced plans to establish a communication channel with Washington to report breaches of the MoU, indicating ongoing diplomatic engagement and no official withdrawal, which maintained market confidence in continued negotiations.
US-Iran talks in Switzerland end with roadmap agreed, technical talks to continue
July 31 dips to 16%1%
Mediators from Qatar and Pakistan announced that US and Iranian officials concluded high-level talks in Switzerland with an agreed roadmap for a lasting deal within 60 days, but technical negotiations were to continue. This reduced the market's perceived likelihood of Iran withdrawing from the MOU negotiations.
Iran to open communication channel on MoU with US after talks in Qatar
July 31 rises to 15%4%
On July 1, 2026, Iran announced it would establish a communication channel with Washington to report breaches of the MoU, following indirect technical talks in Qatar. This indicated ongoing engagement and no official termination of negotiations, contributing to market confidence against withdrawal.
US and Iran hold indirect technical talks in Qatar to advance MoU implementation
July 31 dips to 16%2%
On July 1, 2026, US and Iranian officials held indirect technical talks in Doha mediated by Qatar and Pakistan, focusing on implementing the MoU and discussing frozen Iranian assets. This indicated ongoing negotiation efforts and reduced market expectations of Iranian withdrawal.
US and Iranian officials hold indirect technical talks in Doha, progress reported
July 31 drops to 14%5%
On July 1, 2026, US and Iranian negotiators met indirectly in Doha through mediators, indicating ongoing negotiation efforts and maintaining market confidence against an official Iranian withdrawal announcement.
US and Iranian negotiators hold indirect technical talks in Doha, progress reported
July 31 drops to 11%8%
Despite ongoing tensions, US and Iranian officials met in Doha for indirect talks mediated by Qatar and Pakistan, showing continued engagement and reducing market expectations of withdrawal.
U.S. Treasury imposes fresh sanctions on Iran‑linked shipping firms
July 7 drops to 5%9%
The Treasury announced new sanctions on entities linked to Iran’s oil‑shipping network, raising concerns about Iran’s willingness to stay at the negotiating table and pushing the “Yes” probability down to single digits.
Iran refuses to resume negotiations until MoU terms are implemented
July 31 dips to 16%3%
Iranian Foreign Ministry spokesman stated no meetings with US officials were scheduled, pushing back on suggestions of talks, reflecting Iran's insistence on implementation of MoU conditions before further negotiations.
US and Iran conclude first round of Burgenstock talks with framework agreement
July 31 drops to 16%11%
The first round of direct negotiations concluded in Switzerland with both sides agreeing to a 60-day framework. This progress and the rejection of rumors that Iran had abandoned the talks caused the market probability of withdrawal by July 31 to drop sharply from 27% to 16%.
Iranian Parliament Speaker highlights concerns over US MoU implementation
July 31 jumps to 25%9%
On June 30, Iranian Parliament Speaker Mohammad Bagher Ghalibaf emphasized Iran's concerns about US compliance with the MoU, including demands for recognition of Iranian sovereignty over the Strait of Hormuz and use of frozen assets. This reflected ongoing tensions but no official withdrawal announcement.
CBS: Iran threatens complete halt to talks after US strikes
July 7 drops to 3%11%
CBS reported that Iran threatened a “complete halt” to talks after US‑Iran strikes, reinforcing market fears of a withdrawal and driving the “Yes” price for the July 7 outcome from 14 % down to 3 % on the same day.
Iranian Deputy Foreign Minister says Iran monitors US compliance, will not implement MoU unilaterally
July 31 plunges to 14%16%
Iran's Deputy Foreign Minister Kazem Gharibabadi emphasized that Iran will monitor US compliance with the MOU closely and will only implement its commitments if the US does so first. He stated that Iran had not yet entered final agreement negotiations, signaling cautious engagement rather than withdrawal.
Iran to send delegation to Doha to discuss MOU implementation
July 31 dips to 11%3%
Reuters noted that Iran announced it would send a delegation to Doha on July 1 to discuss implementation of the MOU, reaffirming its participation. This helped stem the market’s decline, keeping the Yes probability at about 14 % before falling to 11 % on July 1.
US and Iranian teams hold second round of talks in Doha on MOU implementation
August 15 drops to 24%10%
Despite recent military exchanges, US and Iranian teams held a second round of talks on June 30-July 1 in Doha to discuss MOU implementation, showing continued engagement and no official termination of negotiations by Iran, which kept withdrawal probability low.
Second round of US-Iran talks in Doha amid ongoing tensions
July 31 drops to 18%8%
Despite ongoing US airstrikes and naval blockade, US and Iranian negotiating teams conducted a second round of talks in Doha on June 30-July 1 to implement the MoU. This showed continued engagement but under strained conditions, keeping market probabilities low for withdrawal.
US and Iranian negotiating teams conduct second round of talks in Doha
July 31 dips to 16%2%
Despite recent military exchanges, US and Iranian teams held a second round of talks on June 30-July 1 in Doha to discuss MoU implementation, showing continued engagement and no official termination of negotiations by Iran, which kept withdrawal probability low.
Ghalibaf says Iran will not hold negotiations in Doha, urges US compliance
July 31 dips to 9%2%
ISW reported Ghalibaf’s interview in which he said Iran would not conduct negotiations in Doha and was pressing the US to meet its MOU obligations. The hard‑line stance subtly raised concerns of a possible withdrawal, nudging the market down to 9 % on July 2.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf supports MoU amid domestic backlash
July 31 dips to 14%4%
On June 30, Ghalibaf gave an interview supporting the MoU, arguing Iran would continue collecting fees from vessels in the Strait of Hormuz and highlighting economic benefits. This helped build intra-regime support and reduced market fears of withdrawal.
US and Iranian teams hold second round of talks in Doha to implement the MOU
July 31 jumps to 26%8%
Despite ongoing tensions, US and Iranian negotiators met in Doha on June 30-July 1 to discuss implementing the memorandum, signaling continued engagement in the negotiation process and temporarily supporting market confidence.
Iranian delegation holds talks in Doha focusing on frozen assets and Hormuz control
July 31 drops to 11%5%
Iran pushed for unfreezing $6 billion in assets and recognition of control over the Strait of Hormuz, signaling negotiation continuation rather than withdrawal, which kept market odds low.
Iranian Foreign Ministry spokesperson says no US-Iran talks scheduled in coming days
July 31 drops to 16%11%
Iran's Foreign Ministry spokesperson Esmaeil Baqaei stated that no negotiation meetings with the US were scheduled in the coming days, emphasizing that technical talks in Qatar were unrelated to US officials. This indicated a pause but not a termination of negotiations, contributing to market price declines.
Iran rejects final US deal until MOU provisions fully implemented
July 31 dips to 7%4%
Iran announced it would not begin final-terms negotiations until the MOU provisions were fully implemented, citing repeated violations including hostilities and US attempts to bypass Iranian control of the Strait of Hormuz. This stance maintained negotiation participation but delayed progress, affecting market confidence.
Iran denies scheduling talks with US amid ongoing tensions
July 7 drops to 3%11%
Iran's Foreign Ministry spokesperson stated no negotiation meetings with the US were scheduled in the coming days, emphasizing that technical talks in Qatar were unrelated to US officials. This indicated a pause but not a termination of negotiations, contributing to market price declines.
Iranian Foreign Ministry denies scheduled talks, prioritizes MoU implementation
July 31 drops to 20%6%
Iranian Foreign Ministry spokesperson Esmail Baghaei stated no talks were scheduled in the coming days and emphasized prioritizing the implementation of the MoU. This signaled reluctance but not official withdrawal from negotiations, reassuring markets of ongoing engagement.
Iran denies plans for technical talks with US, prioritizes MoU implementation
On June 29, Iranian Foreign Ministry spokesperson Esmail Baghaei stated Iran's priority was ensuring MoU implementation and denied scheduled technical talks with the US that week, signaling reluctance but not official withdrawal from negotiations.
Iran denies scheduled technical talks with US, prioritizes MoU implementation
July 31 drops to 19%9%
Iranian Foreign Ministry spokesperson Esmail Baghaei stated on June 29 that no technical talks with the US were scheduled for the coming days and emphasized prioritizing the implementation of the MOU. This signaled reluctance but did not constitute official withdrawal, maintaining market uncertainty.
Iran denies planned technical talks with US, prioritizes MoU implementation
July 31 dips to 18%1%
Iranian officials stated no technical talks with the US were planned for the week, emphasizing focus on implementing the MoU and releasing frozen assets. This indicated reluctance to engage in direct negotiations, contributing to market uncertainty.
US and Iran announce delegations to Qatar for talks despite tensions
July 31 dips to 18%2%
On June 29, 2026, both the US and Iran announced sending delegations to Qatar for talks to discuss MoU implementation, showing continued engagement despite recent exchanges of fire and threats. This reassured markets that Iran had not terminated negotiations.
Iranian FM says Iran alone will manage Strait of Hormuz under MOU
July 31 dips to 14%4%
Iranian FM Araghchi said Iran is “solely responsible” for managing the Strait of Hormuz under the MOU, shifting focus to regional control rather than negotiation progress, further eroding confidence in the talks and pulling the “Yes” odds down on June 28 (18 %→14 %).
US and Iran agree to halt attacks and allow vessels to move freely through Strait of Hormuz
July 31 dips to 28%1%
Despite recent exchanges of fire, US and Iran agreed to stand down and allow free movement of vessels through the Strait of Hormuz, with technical talks continuing as planned. This helped stabilize the market somewhat amid tensions.
Vance says Iran will allow IAEA inspectors; Iran later denies
July 31 plunges to 19%16%
Al Jazeera reported Vance’s statement that Iran would invite IAEA inspectors, which Iran later denied on June 29. The reversal increased market uncertainty, pushing the Yes probability down from 35 % (June 28 peak) to 19 % (June 29).
US-Iran ceasefire strained by missile and drone attacks
July 31 drops to 19%9%
Despite the MoU, Iran launched missile and drone attacks on US bases in retaliation to US strikes on Iranian sites, increasing tensions and raising doubts about the durability of negotiations, leading to market price volatility.
Iranian officials assert control over Strait of Hormuz, warn against US violations of MoU
July 31 rises to 29%2%
Iranian Foreign Minister Abbas Araghchi stated Iran is solely responsible for managing the Strait of Hormuz under the MoU, rejecting US interpretations. Iran threatened to suspend negotiations if the US challenged Iranian sovereignty, increasing tensions but not ending talks.
Iran threatens complete halt to diplomatic processes after US strikes
July 31 drops to 11%7%
On June 28, 2026, the IRGC Navy stated that US strikes violated the ceasefire and warned of a complete halt to diplomatic processes. This threat raised market concerns but did not result in an official termination announcement by Iran.
Iran Demands Clear Timetable for Israeli Withdrawal from Lebanon as Condition for Lasting Peace
July 31 drops to 19%7%
Iran's Foreign Ministry spokesman Esmaeil Baghaei publicly insisted on a clear timetable for Israel's withdrawal from Lebanon. This public posturing and insistence on strict conditions created minor market jitters, slightly raising the perceived risk of a breakdown.
Iranian Foreign Minister asserts sole responsibility over Strait of Hormuz under MoU
July 31 dips to 27%1%
On June 28, Iranian Foreign Minister Abbas Araghchi stated Iran is solely responsible for managing the Strait of Hormuz under the MoU, emphasizing Iran's regional control ambitions amid ongoing negotiations, but without withdrawing from talks.
Iran fires missiles in retaliation but agrees to stop exchange of attacks and meet again
July 31 dips to 11%3%
Despite military tensions, Iran agreed to cease hostilities and continue talks, signaling no official termination of negotiations and maintaining market confidence against withdrawal.
Iran cancels participation in technical talks citing US strikes and unmet MoU conditions
July 31 dips to 14%4%
Iran did not participate in scheduled technical talks on June 28 due to recent US strikes and unfulfilled conditions of the MOU, threatening to halt diplomatic processes. This raised doubts about Iran's commitment and caused market prices for withdrawal to decline.
Assembly of Experts warns negotiators not to cross Supreme Leader’s red lines
July 31 dips to 22%3%
Sixty members of the Assembly of Experts issued a 10‑point warning to negotiators not to violate the supreme leader’s red lines. The hard‑liner warning was interpreted as a possible sign of a future Iranian pull‑out, contributing to the price dip to 22 % on June‑28.
Iran fires missiles and drones at U.S. bases in Kuwait and Bahrain
July 31 plunges to 7%15%
Iran launched ballistic missiles and drones toward U.S. bases in Kuwait and Bahrain in retaliation for U.S. strikes, raising fears the MoU was breaking down. The escalation pushed the market down to a low of 7 % on July‑3.
Iran fires missiles at US bases in retaliation for strikes
July 31 jumps to 38%10%
On June 28, Iran launched ballistic missiles and drones at US military bases in Kuwait and Bahrain in retaliation for US attacks on Iranian coastal sites. This escalated tensions but did not lead to an official termination of negotiations by Iran.
Iran launches missile and drone attacks on US bases in retaliation to US strikes
July 31 drops to 19%7%
Iran's Islamic Revolutionary Guard Corps launched attacks on US military sites in Kuwait and Bahrain after US strikes on Iranian targets, threatening to halt diplomatic processes and straining the US-Iran agreement.
Iran’s foreign ministry warns US strikes will halt diplomatic process
July 31 rises to 26%3%
Iran’s Foreign Ministry issued a statement calling Israeli actions in Lebanon a breach of the MOU and warning that continued US strikes would “result in the complete halt of all diplomatic processes.” This hard‑line wording spooked traders, causing the “Yes” price to rise briefly on June 27 (23 %→26 %).
Iran says Israeli actions in Lebanon breach MOU
July 31 drops to 19%8%
Iran’s foreign ministry issued a statement that Israel’s continued operations in Lebanon violated the first clause of the MOU, implying Tehran might walk away from the process. The market’s Yes probability fell sharply from 27 % on June 28 to 19 % on June 29.
Iran condemns Israeli military actions in Lebanon as MoU violation
July 31 drops to 28%7%
Iranian Foreign Affairs Ministry issued a statement on June 27 characterizing continued Israeli military action in Lebanon as a violation of the MoU clause calling for termination of military operations on all fronts, complicating negotiations but not ending Iran's participation.
Iran's IRGC Navy warns US strikes violate ceasefire and threaten diplomatic talks
July 31 dips to 26%1%
On June 27, 2026, Iran's IRGC Navy stated that US strikes violated the ceasefire and warned this could result in a complete halt of all diplomatic processes. This threat raised market concerns about potential Iranian withdrawal, causing some price volatility.
Iran’s foreign ministry brands Lebanon‑Israel framework agreement a breach of MOU
July 31 rises to 26%2%
The ministry issued a statement calling the separate Lebanon‑Israel framework agreement a violation of the MOU, but stopped short of announcing a withdrawal. The clarification caused the market to level off around 26 % after a brief rise.
IRGC Navy warns US strikes will end all diplomatic talks
July 31 dips to 18%3%
The IRGC Navy declared that recent US strikes violated the cease‑fire and would trigger a “complete halt of all diplomatic processes.” The threat of a full withdrawal pushed the market lower the next day (June 28, 21 %→18 %).
Iran threatens to halt all diplomatic processes after US strikes
July 31 rises to 27%1%
On June 26-27, Iran's IRGC Navy stated that US strikes violated the ceasefire and warned of a complete halt to diplomatic processes. Despite this threat, Iran did not officially announce withdrawal from negotiations, leading to market fluctuations but no definitive resolution.
Iranian state media says trilateral U.S.–Israel–Lebanon deal contradicts MOU
July 31 drops to 18%8%
State media reported that the trilateral agreement between the U.S., Israel and Lebanon contradicted the MOU, stirring speculation that Iran might consider ending talks. The market slipped to 18 % “Yes”.
US strikes Iranian military sites after ceasefire violations
July 31 drops to 18%10%
On June 26, 2026, the US conducted strikes on Iranian military facilities in response to Iranian attacks, escalating military tensions but not leading to an official Iranian termination of negotiations, contributing to market uncertainty.
Iran Foreign Ministry Clarifies Strait of Hormuz Remains Open After IRGC Warning
July 31 rises to 25%2%
The Iranian Foreign Ministry officially clarified that the Strait of Hormuz remained open, overriding a rogue radio broadcast by the IRGC that claimed the strait was closed due to U.S. and Israeli violations. This reassurance of compliance kept the probability of a near-term withdrawal low.
Iran condemns Israeli strikes in Lebanon, threatens halt to talks
July 31 jumps to 27%9%
Iran condemned Israeli military actions in Lebanon as violations of the MoU and threatened a complete halt to diplomatic processes. Despite the threats, Iran did not officially announce withdrawal, and the market did not show a significant increase in withdrawal probability.
Iranian Foreign Ministry clarifies Strait of Hormuz open despite IRGC warning
Iranian Foreign Ministry stated the Strait of Hormuz is open for commercial vessels per the MOU, countering the IRGC's warning that the strait was closed until certain conditions were met. This highlighted internal Iranian divisions but did not indicate withdrawal from negotiations.
Iranian IRGC Navy warns US strikes will halt diplomatic processes
July 31 jumps to 35%7%
On June 27, the IRGC Navy stated that US strikes on Iran violated the ceasefire and would result in a complete halt of all diplomatic processes, signaling Iran's threat to suspend negotiations but not an official termination of participation.
Israel and Lebanon sign US-brokered framework agreement amid Iran tensions
July 31 drops to 18%9%
Israel and Lebanon signed a framework agreement that Iran and Hezbollah criticized as violating the MoU. Iran threatened to halt talks, increasing tensions but did not officially announce withdrawal, causing market uncertainty and a drop in withdrawal probability to 18%.
Iran says frozen assets will fund goods, rejects parallel Strait of Hormuz routes
July 31 jumps to 30%5%
Deputy Foreign Minister Gharibabadi announced Iran would use $6 bn of frozen assets for essential goods and warned that any “parallel routes” for Hormuz traffic would not be accepted. The firm stance raised doubts about Tehran’s willingness to stay in the process, coinciding with a price rebound to 30 % on June‑26.
Iranian negotiator emphasizes sovereignty over Strait of Hormuz and asset retrieval
July 31 jumps to 23%5%
Iran's chief negotiator Mohammad Bagher Ghalibaf publicly asserted Iran's claims over the Strait of Hormuz and the retrieval of frozen assets, signaling firm negotiation positions and domestic political challenges, which caused market fluctuations.
Iran denies scheduled UN inspections, contradicting US claim
July 31 rises to 20%3%
NPR reported a public dispute after Iran’s foreign‑ministry spokesperson said UN inspectors were not scheduled to visit bombed sites, contradicting Vice‑President Vance’s claim. The mixed messages raised doubts about implementation, causing the market’s Yes odds to rebound from 17 % to 20 % on June 24.
US Treasury Temporarily Eases Sanctions and Releases $12 Billion in Frozen Iranian Funds
July 31 jumps to 21%5%
The US Treasury announced a temporary easing of sanctions on Iranian oil and petrochemical products alongside the release of $12 billion in frozen assets. This concrete economic incentive further stabilized the negotiations and kept withdrawal odds low.
US and Iran agree to create de-confliction cell to address Lebanon fighting
July 31 plunges to 16%29%
Following high-level talks, US and Iran agreed to establish a de-confliction cell including Lebanese government participation to manage hostilities in Lebanon, indicating ongoing negotiation efforts rather than withdrawal.
US and Iran announce delegations to Qatar for talks despite tensions
July 31 dips to 18%2%
On June 29, 2026, both the US and Iran announced sending delegations to Qatar for talks to discuss MoU implementation, showing continued engagement despite recent exchanges of fire and threats. This reassured markets that Iran had not terminated negotiations.
Iran agrees to allow UN nuclear inspectors back as part of US agreement
July 31 plunges to 17%28%
On June 22, 2026, US Vice President JD Vance announced that Iran agreed to allow UN nuclear inspectors back into the country as part of the MoU implementation. This was a major milestone indicating Iran's ongoing commitment to negotiations, lowering the market's withdrawal probability.
U.S. and Iran claim “great progress” in first technical talks, Iran to permit UN inspectors
July 31 plunges to 16%29%
Vance and Araghchi said the first day of technical talks in Switzerland produced “great progress” and that Iran would allow UN nuclear inspectors back in. The upbeat official statements pushed the market probability of a withdrawal down sharply, matching the June‑23 price drop from 45 % to 16 %.
Pakistan PM announces successful conclusion of US-Iran talks
July 31 plunges to 16%29%
Pakistan's Prime Minister Shehbaz Sharif announced that talks between Iran and the US concluded successfully in Switzerland, highlighting progress including agreement on a roadmap toward a final deal within 60 days and establishment of oversight committees. This reinforced market confidence in ongoing negotiations.
Iran top negotiator departs for Muscat to discuss Hormuz Strait cooperation
Iran's top negotiator Mohammad Baqer Qalibaf left Tehran for Muscat to hold talks with Omani officials on cooperation regarding the Strait of Hormuz, part of the MOU implementation. This showed Iran's ongoing engagement in the negotiation process.
Iran agrees to return of UN nuclear inspectors as part of US deal
July 31 plunges to 16%29%
Iran agreed to the return of UN nuclear inspectors, signaling a commitment to the 60-day MOU framework despite ongoing regional tensions. This diplomatic progress caused the probability of an early Iranian withdrawal by July 31 to drop sharply from 45% to 16%.
US and Iran conclude first round of high-level talks in Switzerland with roadmap for final deal
July 31 plunges to 16%29%
On June 21-22, 2026, US and Iranian officials met in Switzerland for direct talks following the June 14 MOU signing, agreeing on a roadmap to reach a final deal within 60 days and establishing mechanisms for technical discussions. This progress indicated Iran's continued participation, causing a sharp drop in the market's probability of withdrawal.
US-Iran talks in Switzerland end with roadmap agreed, technical talks to continue
July 31 plunges to 16%29%
Mediators from Qatar and Pakistan announced that US and Iranian officials concluded high-level talks in Switzerland with an agreed roadmap for a lasting deal within 60 days, but technical negotiations were to continue. This reduced the market's perceived likelihood of Iran withdrawing from the MoU negotiations.
Iran consents to UN inspectors, US to lift oil sanctions under MOU
July 31 plunges to 17%28%
The Guardian reported that Iran agreed to allow UN nuclear inspectors back as part of the MOU, while the U.S. said it would lift oil sanctions and reopen the Strait of Hormuz. The announcement signalled strong progress, driving the market’s Yes probability down sharply from 45 % to 17 % the next day.
US and Iran hold high-level talks in Switzerland to advance peace deal
July 31 plunges to 16%29%
On June 21-22, 2026, US and Iranian officials met in Switzerland for direct talks following the June 14 MOU signing, discussing nuclear, sanctions, and dispute resolution. This engagement indicated Iran's continued participation in negotiations, causing a sharp drop in the market's probability of withdrawal.
US Vice President JD Vance announces Iran agreed to allow UN nuclear inspectors back
JD Vance stated that Iran agreed to allow UN nuclear inspectors back into the country as part of the MoU, marking a major milestone and the first step in permanently ending Iran's nuclear weapons program. This announcement initially boosted confidence in the negotiation process and lowered withdrawal probability.
US-Iran negotiations in Switzerland end with plans for continued technical talks
July 31 drops to 11%5%
High-level negotiations concluded with agreement to continue lower-level technical talks and establish a de-confliction cell to address fighting in Lebanon. This indicated ongoing engagement rather than termination, contributing to market price declines for withdrawal.
Strait of Hormuz effectively closed amid negotiation tensions
July 31 plunges to 16%29%
Vessel tracking data showed the Strait of Hormuz closed with no transits observed, reflecting Iran's leverage in negotiations. This closure underscored the fragile state of talks but did not equate to withdrawal from negotiations.




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