Turkey urges return to US-Iran deal
Analysis based on 6 articles · First reported Jul 19, 2026 · Last updated Jul 20, 2026
Renewed diplomatic efforts could reduce geopolitical risk premium in oil markets and ease shipping concerns in the Strait of Hormuz. However, the lack of concrete progress may keep markets cautious.
Turkish Foreign Minister Hakan Fidan, during a visit to Qatar on July 19, 2026, called for a return to the memorandum of understanding between the United States and Iran. He stated that Qatar is using all diplomatic channels to resolve the crisis and that Turkey is coordinating closely with Doha. Fidan warned that US-Iran hostilities have affected the regional economy and risk broader conflict. He recalled attacks on infrastructure and stressed the need to revive diplomatic efforts. A memorandum had been prepared with Pakistan's mediation, Qatar's contributions, and Turkey's support, but the parties have since moved away from it. Fidan also offered condolences on the death of former Qatari Emir Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani and praised Qatar's constructive regional role.
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