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90GEOPOLITICS

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

⚡ Markets: Adds to the geopolitical risk premium, reinforcing the bullish case for oil and bearish case for general risk assets. The military escalation is the primary driver; this is a secondary, reinforcing factor.BrentgoldUSD

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, prompted by uranium traces at undeclared sites, escalates diplomatic pressure on Tehran amid the ongoing military conflict with the US.

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