U.S. Vice President JD Vance on Monday said his lengthy talks with senior Iranian officials in Switzerland created a “good foundation for a successful final deal” as they seek a everlasting end to the war that the U.S. and Israel began in late February.
Vance and U.S. officials claimed progress on multiple fronts, including the establishment of “mechanisms” to make sure the Strait of Hormuz, a significant waterway for global energy shipments, stays open and to handle fighting between Israel and Iranian-backed Hezbollah militants in southern Lebanon, where a ceasefire seemed to be holding.
The vice chairman departed Switzerland as technical teams were still in place negotiating. He stressed that the important thing for President Donald Trump can be Iran’s actions slightly than its words.
“My point is that I trust actions, and what the president has asked us to do is confirm what they’re doing, focus less on what they’re saying,” Vance said.
Iran effectively closed the strait after the U.S. and Israel attacked on Feb. 28, causing fuel prices to skyrocket far beyond the region. The interim agreement to finish the war was presupposed to reopen the channel. Dozens of ships passed through it over the weekend, regardless that the essential route continues to be mined and closed.
Shortly after those attacks, Hezbollah and Israel also went to war, with Hezbollah firing rockets and drones at civilian communities in northern Israel and Israel seizing large swaths of southern Lebanon. Iran has insisted that addressing the fighting in Lebanon is a critical component of any deal to finish the broader conflict.
Iran noted “major progress” to finish the fighting in Lebanon and called that the primary real test of the negotiations.
In other developments, the U.S. Treasury issued a 60-day license waiving sanctions on Iranian oil as a part of the interim agreement. Notably, the license allows Iranian oil to be imported into the U.S., which has not imported significant amounts of Iranian oil for the reason that Nineties.
Also on Monday, the State Department announced that Secretary of State Marco Rubio would travel this week to the United Arab Emirates, Kuwait and Bahrain to debate the newest developments in Iran.
Trump was not in Switzerland but loomed large over talks
The mediation effort in Switzerland began Sunday and stretched into early Monday.
“We haven’t built the home, but we’ve laid a successful foundation to get to a superb place for the American people,” Vance told reporters after initial talks with Iran’s parliamentary speaker, Mohammad Bagher Qalibaf.
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Trump didn’t attend what was dubbed the “Lake Lucerne Summit,” but his presence definitely loomed large. The talks were jolted by statements from Trump, who, from 1000’s of miles away, fired off comments that offended the Iranians.
Iranian state media said talks had paused after the “publication of an insulting message by the U.S. President.” The negotiations later continued.
Vance floats unfreezing Iranian assets to buy US goods
The vice chairman suggested that the U.S. could conform to unfreeze Iranian assets for purchases of U.S. soy, corn and wheat. He said Jared Kushner, Trump’s son-in-law and one among the lead U.S. negotiators, got here up with the thought with officials from Qatar.
Vance said Qatar would have approval over the method, and Iranian money that may be accessible as sanctions were lifted would buy American products “for the good thing about the Iranian people.”
Iran, which has pressed for the unfreezing of billions of dollars in assets, has not commented on the thought. The assets have been frozen over years of sanctions, banking restrictions and legal disputes imposed by the U.S. and international community.
High-level talks have ended but technical talks proceed
In a joint statement, mediators Pakistan and Qatar hailed what they called “encouraging progress.”
The interim deal to finish the fighting in Iran, signed last week by the leaders of the U.S. and Iran, sets a 60-day period for negotiations on key issues, including the long run of Tehran’s nuclear program amid concerns that Iran wants to make use of it for military purposes, a claim the country denies.
Vance said the technical talks, which were to proceed this week, were critical. U.S. envoys Kushner and Steve Witkoff are handling lots of the technical details.
More ships go through strait
Meanwhile, more ships went through the Strait of Hormuz. In line with data and analytics firm Kpler, there have been 71 confirmed transits over the weekend, with a peak of 35 crossings on Saturday. Before the war, 100 to 130 vessels passed through the strait every day.
Ships have been avoiding the central path to keep away from mines, selecting as a substitute to make use of the smaller northern route, which matches through Iranian waters, and the southern route, which matches through Omani waters. Within the markets, U.S. oil prices dropped greater than 2% in Monday afternoon trading to $74.66 a barrel.
Trump, over the weekend, made clear he was annoyed by Iran’s public commentary on the strait, which Iran’s military said it closed Saturday in response to continued fighting in Lebanon. U.S. Central Command disputed that Iran closed the strait again.
Ahead of the talks, Iranian President Masoud Pezeshkian had vowed to “never back down from the proper to complement uranium,” in keeping with state media.
Trump on Sunday told Fox News in a phone interview that Pezeshkian should watch what he says and threatened to take over Iran, in keeping with one among the news channel’s correspondents.
Trump also posted on social media as negotiators worked: “Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble. In the event that they don’t, we’ll hit Iran very hard again, similar to we did last week, only harder!!!”
Iranians agree there was progress on their top issue
Iranian Foreign Minister Abbas Araghchi wrote on X that mediators delivered “major progress to finish the Lebanon War.” But he said the primary “real test” of negotiations can be whether the mechanism succeeds in halting the fighting between Israel and Hezbollah.
Neither Israel nor Hezbollah is a signatory to the U.S.-Iran deal.
But as of Monday evening within the Middle East, the ceasefire between Israel and Hezbollah seemed to be holding.
“We have now not detected trajectories from either side since yesterday,” said Tilak Pokharel, a spokesperson for the U.N. peacekeeping force in southern Lebanon referred to as UNIFIL.
Airspace violations and Israeli military movements continued, Pokharel said.
Hezbollah has not announced any attacks on Israeli forces since Saturday.
The lull in fighting in Lebanon is the longest for the reason that latest Israel-Hezbollah war began on March 2.
Kim and Boak reported from Washington. Associated Press reporters Abby Sewell in Beirut, David Rising in Bangkok, Fatima Hussein in Washington, Mae Anderson in Latest York, Jon Gambrell in Dubai, United Arab Emirates, and Melanie Lidman in Tel Aviv, Israel, contributed to this story.