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Under Omani mediation, the US and Iran restart nuclear talks. The core disagreements remain unresolved: the US demands the permanent abandonment of uranium enrichment, while Iran insists on the peaceful nuclear energy rights granted under the NPT. The negotiations have broken down five times, with airstrikes in 2025 and fighting in 2026; the issue of the uranium enrichment stockpile remains in limbo throughout. Iran previously proposed a five-year suspension, while the US is asking for twenty years—a wide gap between the two positions. Iran’s Foreign Minister Alir Reza Araghchi leads the delegation to negotiate, with domestic hardliners and security anxieties constraining each other on both sides; Oman, with its tradition of neutrality, has become the only trusted messenger between the two. With the card of uranium enrichment, Tehran will not give it up in the short term, but the bargaining chips are being reduced.

The duration of the "Freedom Plan" suspension window is not determined by political narratives but by each barrel of risk crude oil re-priced by the market.
Until there is a substantial easing in energy price pressures, the window will not disappear, but it will become narrower and narrower.

a16z report points out: Stablecoins are evolving from a trading tool into a new global financial infrastructure—cross-border payments crushing SWIFT, with one wallet serving as a global account. Regulatory focus is shifting to "securing licenses," and the division of labor in the payment chain has taken shape. Key insight: Payments are the first act, while credit is an even more important second act, and on-chain credit markets will reshape global pricing logic. Stablecoins simultaneously strengthen dollar dominance and provide dollar access to emerging markets. Once payment pipelines are established, lending, derivatives, and insurance will grow rapidly, reconstructing much more than just cross-border transfers.