Iranian president says Iran is open to diplomacy but will defend its interests in Hormuz

It is Iran's turn at the UN with Iran Pres. Pezeshkian taking the stage today. Note that US officials walked out of the UNGA hall ahead of his speech. In summary, Iranian President Masoud Pezeshkian said Iran needs nuclear energy, not a nuclear bomb, and argued that the nuclear issue cannot be settled on the battlefield. He said Iran has shown a commitment to negotiations, but will not surrender to military pressure. He described Iran’s military posture as defensive and said the country must be strong enough to respond to attacks. On the Strait of Hormuz, Pezeshkian said Iran cannot allow others to use the waterway to move weapons that would be used against it. He also spoke about the attack on the Minab girls’ school, saying innocent children were killed, and said Iran had not targeted civilian populations. Those are the president’s claims; the supplied remarks do not independently establish responsibility for the attack or the conduct of either side. At the UN General Assembly yesterday, President Trump defended the U.S.-Iran conflict and said he was considering whether to "annihilate" Iran. He framed this as a major decision, with the alternative being a deal that would let Iran rebuild. He predicted that deal wouldn't come until after the November midterms, arguing that Tehran is waiting to see how he does in them without realizing he isn't personally on the ballot. He insisted the two countries would resolve things one way or another. Diplomacy was also going on in the background. Later that day, Trump said Jared Kushner and special envoy Steve Witkoff had a very good meeting with Iranian officials on the sidelines, and Witkoff described lengthy talks held through mediators. Analysis: Both presidents left room for a deal, but each paired that opening with a warning. For traders, the immediate question is whether the contacts Trump described produce another meeting and any practical agreement on shipping through Hormuz. Until there is something concrete on that