Iran's Supreme Leader gives government powers for talks with the US

Iranian President Masoud Pezeshkian announced that the Supreme Leader has granted the government certain powers for peace talks with the United States. The report emerged in the early hours of November 3 (UTC).

What happened

Pezeshkian said the Supreme Leader, Ali Khamenei, gave the government powers to negotiate with Washington. The announcement followed comments from the Iranian foreign ministry.

Those comments indicated that communication with the United States through mediators is already underway. The report does not name the mediators or say what has been discussed so far.

Iran has also proposed a two-day plan to reopen the Strait of Hormuz. No details of the plan were given.

Separately, reports have emerged of alleged secret US strikes on Iranian positions. The report does not confirm them, and no official statement on them was provided.

Why it matters

The question of who may negotiate is central in Iran's political system. By granting the government powers, the Supreme Leader sets the framework in which Pezeshkian's administration can talk to the United States. The report presents this as a defined mandate for the government in the talks.

The Strait of Hormuz is a maritime passage whose status the report links directly to the talks. A proposal to reopen it shows that shipping access is part of the diplomatic agenda between the two sides. The report gives no further detail on the current state of access through the strait.

The report also mixes diplomatic signals with accounts of alleged military action. That combination makes the direction of the process harder to read, because the two tracks are described side by side without any official confirmation of the strikes.

For investors, the story is a diplomatic development whose outcome is not yet known, and the report gives no timetable for talks.

What to watch next

The next steps depend on whether Washington confirms the contacts through mediators and how it responds to the Hormuz proposal. The report offers no statement from the US side, and it does not say when any formal round of talks could begin.

The US calendar for November 3 is busy. Midterm elections are scheduled for the day, with no figures attached. At 15:00 UTC, the US releases September JOLTs job openings, with an estimate of 7.13 M against a previous reading of 7.08 M.

Both events will shape the US political and economic backdrop in which any talks with Iran would take place. Further statements from Tehran on the scope of the new powers would also clarify how far the government can go.