Recent U.S.-Iran negotiations have produced a virtual memorandum of understanding on a ceasefire framework, Strait of Hormuz reopening, and follow-on nuclear talks, but all contacts have remained remote or conducted through intermediaries such as Omani mediators and U.S. envoys. President Trump is attending the G7 summit in France with no bilateral in-person meetings or signing ceremonies involving Iranian officials scheduled before the June 20 deadline. Diplomatic protocols, security arrangements, and the compressed timeframe reinforce trader expectations that a direct handshake will not occur. A last-minute decision to advance the planned formal signing from Switzerland or an unscheduled side encounter at the G7 could still alter the outcome within the narrow window.