Al-Monitor Daily Briefing: Iran FM to discuss US nuclear talks in Moscow

Welcome back to the Daily Briefing.

This is Rosaleen Carroll, filling in for Gabrielle Debinski.

In today’s edition:

• Iran’s foreign minister heads to Moscow after wrapping up the first round of US-Iran nuclear talks this weekend
• US-backed Arab-language television network will cease broadcasting following President Donald Trump’s budget cuts
• Turkey’s effort to acquire F-16 fighter jets from US faces further complications
• Where Middle East investors stand as concerns over US Treasury bonds increase 

I highlight these top stories below. 

Thanks for reading,

Rosaleen (@roscarroll_) 

Iran FM to discuss US nuclear talks in Moscow

Iran's Foreign Minister Abbas Araghchi is scheduled to visit Moscow to discuss ongoing nuclear talks with the United States — KAREN MINASYAN

Iran's foreign minister will visit Russia this week to discuss nuclear negotiations with the United States ahead of a new round of talks planned for Rome. 

On Saturday, Abbas Araghchi held talks with US Middle East envoy Steve Witkoff in Oman, the highest-level negotiations since Trump withdrew from a 2015 nuclear accord during his first term. The talks will resume next weekend.

Russia, a close ally of Iran and party to the 2015 deal, and China have held discussions with Tehran in recent weeks over its nuclear program. "Dr. Araghchi will travel to Moscow at the end of the week," said Foreign Ministry spokesperson Esmaeil Baqaei, adding that the trip was pre-planned and would be "an opportunity to discuss the latest developments related to the Muscat talks."

US-funded Arabic network ends broadcasts after Trump cuts 

A TV displays the Alhurra Iraq logo in the lobby of the headquarters of the network after its launch in 2004 at its office in Springfield, Virginia — BRENDAN SMIALOWSKI

Alhurra, the Arabic-language network created by the US government after the Iraq invasion, said Saturday it would cease broadcasts and lay off most staff after President Donald Trump's administration shut off funds. 

The network went on air in 2004, when US officials were complaining about coverage of the Iraq war from Qatar-backed Al Jazeera, which two decades later maintains a dominant role in Arabic-language media. 

"Media in the Middle East thrive on a diet of anti-Americanism," said Jeffrey Gedmin, president and CEO of Middle East Broadcasting Networks, the parent company of Alhurra and other smaller US-funded Arabic-language outlets. 

As part of a sweeping cost-cutting drive led by billionaire Elon Musk, the Trump administration said in March that it was ceasing all financial transfers for US government-supported media. The move quickly froze Voice of America, although its employees have mounted legal challenges to restore its funding, which was approved by Congress. 

With F-35, Eurofighter jets on table, Turkey cools off on F-16 deal 

The Soloturk aerobatic demonstration team of the Turkish Air Force flies an F-16 aircraft over Anitkabir, the mausoleum of Turkish Republic's Founder Mustafa Kemal Ataturk, during celebrations to mark the 100th anniversary of the Republic of Turkey in Ankara, on October 29, 2023. — ADEM ALTAN/AFP via Getty Images

Turkey’s acquisition of new F-16 fighter jets from the United States has become shrouded in uncertainty despite the two sides having agreed on the deal in principle. 

Turkey tabled its bid for the new F-16s in 2020 after it was expelled in 2019 from an international consortium that manufactures next-generation F-35 fighter jets over its purchase of Russian S-400 air defense systems. Congress officially approved the deal in January 2024 following Turkey's green light for Sweden's accession to NATO — a key foreign policy objective for the previous US administration in the face of Russia's war in Ukraine. 

Merely weeks after Donald Trump's second-term win, Turkish Defense Minister Yasar Guler announced on Nov. 21 that Ankara scaled back a $23 billion deal that initially included 40 new F-16 Block 70 fighter jets and 79 modernization kits and noted that Ankara had given up on buying the kits. 

According to some analysts, several factors including cost concerns, alternative options like the Eurofighter Typhoon and ongoing tensions over the F-35 program have been stalling Turkey’s acquisition process for the F-16s. Read Barin Kayaoglu’s analysis. 

Chart of the day

Amid Trump’s global tariff war, US Treasuries could be at risk of losing their safe-haven status, creating new concerns for investors in the Middle East — led by Saudi Arabia, which held nearly $130 billion in US Treasury bonds as of January 2025 — that have prized US debt for its stability and liquidity. 

As of April 11, yields on the 10-year US Treasury note jumped nearly 50 basis points over the past week to reach 4.48%, while 30-year yields rose 44 basis points to 4.85% in the same period. Crucially, these yields, which move inversely to bond prices, are going up when they typically would fall as investors flee into safer assets at a moment of market volatility. Although US stocks surged on April 9 after Trump's tariff reversal, the rally quickly leveled off, and the S&P 500 is still down roughly 5% as of April 11. 

Foreign investors own roughly a quarter of US debt, led by Japan and China. Amid this upheaval, speculation has swirled that China could retaliate against Trump’s tariffs by dumping US bonds, with its holdings standing at $761 billion as of January 2025. Meanwhile, investors in the Middle East also had hundreds of billions parked in the world’s largest sovereign debt market, led by oil-rich Gulf states that have historically recycled petrodollars into US assets. Read Samuel Wendel’s report here.