US-Iran diplomacy remains channeled through indirect talks and intermediaries following the 2026 conflict and the June memorandum of understanding, with Iranian officials repeatedly stating that a direct conversation between President Trump and Supreme Leader Mojtaba Khamenei is unrealistic. Mojtaba, who assumed the role after his father’s death in February strikes, has maintained a low public profile amid security concerns and health rumors, though President Pezeshkian confirmed in September that he is alive and exercising final authority. Trump has signaled openness to engagement if it advances nuclear or regional agreements, yet Tehran has shown no movement toward personal contact. Trader consensus reflects these structural barriers and the preference for mediated channels, with any shift likely requiring a major diplomatic breakthrough or scheduled summit before year-end.