Ongoing US-mediated negotiations between Israel and Lebanon, launched after a June 2026 framework agreement on Hezbollah disarmament and phased IDF withdrawals from southern pilot zones, continue through diplomatic channels rather than direct leader engagement. Lebanese President Joseph Aoun has repeatedly ruled out any meeting or call with Prime Minister Benjamin Netanyahu, citing ongoing Israeli operations and territorial presence, while stressing that bilateral talks via delegations remain the only viable path to ending hostilities and restoring Lebanese sovereignty. Recent rounds in Rome through early August have focused on implementation details ahead of September sessions, with progress tied to Lebanese army deployments and security guarantees. These dynamics, alongside Aoun’s public statements and the absence of scheduled high-level bilateral contact, shape trader assessments of whether direct Netanyahu-Aoun communication occurs by the market’s resolution date.