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92GEOPOLITICS

IAEA board refers Iran to UN Security Council for first time in 20 years over nuclear non-compliance

⚡ Markets: Increases tail risk of a wider conflict focused on Iran's nuclear program. Further supports a geopolitical risk premium on oil prices and defense stocks. Could negatively impact assets exposed to the Middle East.BrentGoldLMTRTX

The International Atomic Energy Agency's 35-nation board of governors passed a resolution reporting Iran to the UN Security Council for breaching its non-proliferation obligations. The move, driven by the U.S. and European powers, follows a long-running investigation into uranium traces at undeclared sites and marks a major diplomatic escalation amid heightened military tensions.

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