foreign-policy
Qatar-Mediated US-Iran Talks Continue Over Hormuz Reopening as Midterm Elections Near and Renewed Strikes Loom
Indirect talks in Doha, mediated by Qatar, ran a third day Sunday. Qatar is reportedly trying to arrange the release of $6bn in Iranian assets that could lead to reopening the Strait of Hormuz. Reuters, citing an official, reported the Iranian delegation has left Doha and a draft proposal for a deal with the US is circulating. Iran's foreign minister said talks with Qatari mediators continue without agreement. Iran said the "ball is in the U.S. court," and Qatari mediators were reported to be returning to Tehran. President Trump said the war will end soon "one way or the other." Breitbart reported Iran threatened an "earth-shattering blow" if the US or Israel resumes strikes. Iran's IRGC Navy said two tankers exploded after hitting mines in Hormuz; Al Jazeera reported shipping remains risky and costly despite US claims the strait is open. Oil fell roughly 3–4% on hopes for progress. Rep. Ro Khanna (D-Calif.) said he would cut off funding for further military action in Iran.
Oct 30Indirect Doha talks begin, mediated by Qatar.
Nov 1Third day of talks; Iran threatens a severe response to any new strikes; two tankers reportedly hit mines in Hormuz.
Nov 2Iranians reportedly leave Doha, a draft proposal circulates, and Trump says the war will end soon.
Nov 3US midterm elections.
Why It Matters
The Gulf region is on edge as it waits to see whether the US resumes attacks after Tuesday's midterm elections. Shipping through Hormuz is still dangerous. Oil prices swing on each sign of progress or setback. Saudi Arabia's economy shrank 3.8% as oil output fell, and the Financial Times reports that diplomats warn renewed fighting would be more damaging than earlier rounds. Democratic lawmakers are questioning the Navy's evacuation of military families from Bahrain after Iranian attacks, and the war is now an issue in the elections and in debate over funding.
What's Next
Confidencedeveloping
Agreementmixed