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“Secretary of State Marco Rubio will host his G20 counterparts, including Russia's Sergei Lavrov, for talks on Friday (October 30, 2026) that are expected to be fractious, with wars in Ukraine and Iran and surging energy prices fanning discord.”

“Oil prices fell more than 1% on Thursday (October 15, 2026) as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against U.S. efforts to cut petroleum shipping costs by easing sanctions on vessels.”

“In June, when the U.S. signed a memorandum of understanding (MoU) with Iran, Washington agreed to make concessions in return for reopening the Strait of Hormuz, while the nuclear talks were pushed to the back burner.”

“President Donald Trump on Saturday (September 26, 2026) rejected a truce deal proposed by Iran that Tehran said could have reopened the Strait of Hormuz to shipping within a week.”

“Trump also met on Tuesday (September 22, 2026) with leaders and senior officials from Gulf Cooperation Council nations - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - as well as Jordan to discuss the way ahead with the war in Iran.”

“The interim deal opened a 60-day period for talks aimed at ending the war and reaching an accord on Iran’s nuclear programme.”