The first round of high-level talks between the United States and Iran in Switzerland concluded on Monday, with mediators announcing a roadmap toward a final deal within 60 days. The talks, held in the Qatari-owned Swiss mountain resort of Buergenstock, were mediated by Qatar and Pakistan and came after a tense opening marked by Tehran's announcement that it had again closed the Strait of Hormuz and U.S. President Donald Trump repeating threats to resume attacks on Iran.
Joint Statement and Key Agreements
A joint statement from mediating nations Qatar and Pakistan, released by the Qatari foreign ministry, said the U.S. and Iran agreed to a roadmap toward a final deal within 60 days. Technical talks will continue for the rest of the week in Buergenstock. The parties agreed to a mechanism to end the fighting in Lebanon and opened a communications line to help ensure safe passages for commercial ships through the contested Strait of Hormuz.
U.S. Vice President JD Vance began talks with Iranian officials on Sunday under the terms of a memorandum of understanding (MOU) reached last week to extend a tenuous ceasefire from April for at least another 60 days. The discussions continued until the early hours of Monday.
Iranian Statements and Demands
In a social media post, Iranian Foreign Minister Abbas Araqchi said his country had secured waivers for oil and petrochemical exports, the release of some frozen assets, and the launch of a reconstruction and development plan for Iran. Iran's semi-official Tasnim news agency, citing an informed source, reported that after Trump's threats became public, the Iranian delegation refused to return to the room where talks were held, though messages were still being traded via Pakistani and Qatari mediators. According to Tasnim's source, Iranians demanded that the start of negotiations on nuclear matters required the delivery of other parts of the MOU, including the release of frozen assets and U.S. waivers authorizing Iranian oil exports.
U.S. Perspectives and Threats
The White House had no immediate comment when asked if high-level talks had wrapped for now. Just before talks officially began on Sunday, reports indicated that Trump said he told Iranian officials "you won't have a country" if they tried to close the strait again. Trump also reiterated an earlier threat that the U.S. would take over the waterway and possibly charge a toll of its own. Trump said he agreed to last week's MOU to avert a global economic depression from high oil prices caused by the strait's closure. Oil prices had tumbled over the past week to levels unseen since the war started on February 28 with U.S.-Israeli attacks on Iran.
Back in the United States, Trump threatened to resume attacks on Iran if it did not rein in its allies. "Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble," Trump wrote on social media, apparently referring to Hezbollah. "If they don't, we'll hit Iran very hard again, just like we did last week, only harder!!!"
On-the-Ground Developments
A U.S. diplomat involved in the talks stated, "The Iranians never left and are still here meeting and negotiating deep into the night. We’ve talked about the Strait, Lebanon, nuclear issues, and details of implementing the MOU, among other topics." Another U.S. diplomat late Sunday said discussions included "clarifying some of the confusing messaging from Iran on the Strait and building deconfliction mechanisms to ensure the Strait will remain fully open."
Despite the announcement of a new ceasefire in Lebanon on Friday, there has been scant sign of an end to fighting there. Iran said on Saturday that as a result, it had again shut the Strait of Hormuz, whose closure for nearly four months caused the biggest disruption of global energy supplies in history. Five vessels passed the strait on Sunday, a sharp drop from the 26 ships spotted a day earlier, data from analytics firm Kpler showed. The data may exclude vessels that switch off their transponders while travelling in the Gulf.
Impact on Oil Markets
After the joint statement, Brent crude futures fell further, dropping more than $1 to $79.44 a barrel. The agreement calls for reopening the Strait of Hormuz, a choke point for global energy shipments, and ending all hostilities, including in Lebanon, where Israel has continued to launch deadly strikes as Iranian ally Hezbollah fires at Israeli targets. More than 1 million people have fled their homes in Lebanon since Israel invaded in March to pursue Hezbollah fighters who fired across the border in support of Tehran.
At the talks in Switzerland, Vance played down the impact of violence in Lebanon, saying progress had been made towards ending hostilities there. "These things are always a little bit messy," he said. Even as Trump was threatening Iran, Vance told reporters the U.S. president had "asked us to turn over a new leaf to transform our relationship with the people of Iran."
Sunday appeared to be the quietest day in Lebanon for some time, with no reports of major violence by nightfall, after two days of heavy Israeli strikes and fire from Hezbollah fighters on Israeli positions.
