During talks in Switzerland, the U.S. and Iran have reportedly made substantial progress towards a final deal within 60 days, as outlined in a joint statement by mediators Qatar and Pakistan.
Key outcomes include the establishment of a 'High Level Committee' for political oversight and a 'de-confliction' cell aimed at ending military hostilities in Lebanon, where tensions have been high due to ongoing conflicts involving Hezbollah.
Iran's Foreign Minister Abbas Araghchi noted that the negotiations have led to what he termed waivers for oil and petrochemical exports, the lifting of port blockades, and the release of some frozen assets. The U.S. delegation, led by Vice President JD Vance, expressed optimism about the discussions, which are set to continue throughout the week.
The parties have agreed to keep the Strait of Hormuz open toll-free for at least 60 days, despite Iran's threats to close it in response to Israeli actions. The negotiations are taking place amid rising tensions, but both sides appear committed to finding a resolution, which could have significant implications for regional stability and global oil supply