**Recent US-mediated Lebanon-Israel talks remain indirect and stalled amid persistent tensions, with Lebanese President Joseph Aoun explicitly ruling out direct contact with Israeli Prime Minister Benjamin Netanyahu until Israeli forces fully withdraw, prisoners and displaced persons return, and reconstruction advances.** Aoun reaffirmed on September 12, 2026, during a surprise visit to southern Lebanon’s Nabatieh region, that “there are no new negotiations with Israel at the present time,” citing ongoing Israeli actions including strikes and control of areas like the Ali Taher ridge as barriers. The next formal round, previously eyed for Rome in mid-September, has been postponed to October due to scheduling issues, though lower-level ambassadorial discussions are planned in Washington. Aoun has repeatedly stated he would immediately exit any shared room with Netanyahu and conditions any high-level engagement on prior implementation of the June 2026 US-brokered framework agreement. Hezbollah’s opposition to direct dealings further complicates prospects. These factors shape trader views around the low likelihood of a Netanyahu-Aoun conversation in the near term absent major de-escalation or breakthroughs in the mediated process.