Trump has publicly expressed openness to direct engagement with Iran's Supreme Leader Mojtaba Khamenei during 2026 negotiations to end hostilities, citing mutual respect and progress toward a nuclear restraint framework and Strait of Hormuz reopening after the June MoU. No verified direct conversation has taken place, however, as talks continue through intermediaries while Mojtaba remains out of public view due to reported injuries sustained earlier in the year. Iranian statements have framed U.S. efforts as overly aggressive, and recent U.S. intelligence assessments questioning Mojtaba's standing have added uncertainty. These dynamics, alongside reliance on formal diplomatic channels, shape trader consensus on the low likelihood of a personal talk by the December 31 resolution date.