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Iranian President Pezeshkian just dropped a bombshell in an interview with the IRNA: Supreme Leader Khamenei has authorized the government to exercise “partial decision-making authority” at the negotiating table. The news sent international oil prices tumbling, while gold and silver prices surged in the opposite direction. Markets sensed Tehran might be easing its stance—a signal seen as suggesting Iran’s negotiating position could soften and its chances of reaching a deal with the U.S. could improve.
But don’t celebrate just yet. Iran’s ultimate authority remains in the hands of the Supreme Leader, and strategic decision-making power has not been delegated. Any agreement must pass a dual approval process involving both the Leader and the negotiating team. Iran had previously put forward a “two-day framework proposal”: conditionally reopening passage through the Strait of Hormuz, in exchange for concrete concessions—lifting the blockade, unfreezing funds, and easing sanctions. The authorization gives the negotiating team more room to maneuver, but the bottom line remains firmly in the Supreme Leader’s hands. The market’s exuberance is most likely just a knee-jerk reaction to a slight increase in perceived “certainty.”
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Iranian President Pezeshkian just dropped a bombshell in an interview with the IRNA: Supreme Leader Khamenei has authorized the government to exercise “partial decision-making authority” at the negotiating table. The news sent international oil prices tumbling, while gold and silver prices surged in the opposite direction. Markets sensed Tehran might be easing its stance—a signal seen as suggesting Iran’s negotiating position could soften and its chances of reaching a deal with the U.S. could improve.
But don’t celebrate just yet. Iran’s ultimate authority remains in the hands of the Supreme Leader, and strategic decision-making power has not been delegated. Any agreement must pass a dual approval process involving both the Leader and the negotiating team. Iran had previously put forward a “two-day framework proposal”: conditionally reopening passage through the Strait of Hormuz, in exchange for concrete concessions—lifting the blockade, unfreezing funds, and easing sanctions. The authorization gives the negotiating team more room to maneuver, but the bottom line remains firmly in the Supreme Leader’s hands. The market’s exuberance is most likely just a knee-jerk reaction to a slight increase in perceived “certainty.”
#FollowEachOther