BUERGENSTOCK, Switzerland, June 22 (Reuters) – US Vice President JD Vance said on Monday that negotiations with Iranian officials in Switzerland had established a “good basis” for a definitive peace agreement, despite tensions around the Strait of Hormuz and Lebanon.
The two sides, seeking to build on an interim deal signed last week, agreed on a roadmap for a permanent deal to be reached within 60 days during talks in the Qatari-owned Swiss mountain resort of Buergenstock, mediators Pakistan and Qatar said.
They also reached agreement on a mechanism to end fighting in Lebanon between U.S. ally Israel and Iran-aligned Hezbollah and opened a line of communication to help ensure the safe passage of commercial ships through the strait, a vital route for global oil supplies.
VANCE PRESENTS AN OPTIMISTIC ASSESSMENT
Vance said Tehran agreed to allow nuclear inspectors in and to establish mechanisms to deal with its frozen assets abroad and manage ceasefires.
“We have established a very good basis for a successful final agreement,” he told reporters after participating in the negotiations.
Since the US bombed Iran’s nuclear facilities in June last year, Iran has allowed the International Atomic Energy Agency (IAEA) to inspect only those facilities that were not hit in those attacks. The IAEA suspended inspections entirely following the US and Israeli strikes that started the war with Iran on February 28, and they have not resumed since.
Vance downplayed tensions surrounding US President Donald Trump’s threat on Sunday to resume war after Iran closed the Strait of Hormuz again, citing Washington’s failure to halt fighting in Lebanon.
“There was a little bit of threat, there was a little bit of complaining, but ultimately the negotiations continued and we made great progress,” Vance said.
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Iran’s Foreign Minister Abbas Araqchi said on social media that Tehran had granted exemptions for oil and petrochemical exports, the release of part of its frozen assets abroad and the launch of a reconstruction and development plan for Iran.
Vance said White House envoy Jared Kushner, Trump’s son-in-law, proposed a process in which the U.S. and Qatar would have control over Iranian funds when they were unfrozen, which would allow the money to be spent on purchasing U.S. corn, soybeans and wheat.
Following last week’s interim agreement, or memorandum of understanding, the US Treasury Department on Monday issued a general license to Iran, authorizing the production, delivery and sale of crude oil and petrochemical and petroleum products of Iranian origin until August 21.
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Technical talks are expected to continue for the rest of this week, and Pakistani Prime Minister Shehbaz Sharif wrote on X that the first round of talks had “concluded successfully.”
“Discussions took place in a positive and constructive environment and yielded encouraging progress,” he said.
