Obbuergen, Switzerland: Vice President JD Vance said on Monday that extensive talks with senior Iranian officials in Switzerland laid “a good foundation for a successful final deal” as US and Iranian negotiators work toward a permanent end to the war that began in late February, AP reported.
US officials, including Vance, reported progress on several key issues, including creation of “mechanisms” to keep the Strait of Hormuz open — a crucial route for global energy shipments — and to address fighting between Israel and Iranian-backed Hezbollah militants in southern Lebanon, where a ceasefire appeared to be holding.
The interim agreement signed last week by US and Iranian leaders establishes a 60-day period to negotiate core disputes, among them Tehran’s nuclear program amid international concerns over possible military dimensions, which Iran denies. Vance left Switzerland while technical teams continued talks.
Trump: Respect Is Key
Back in Washington, President Donald Trump, who did not attend the talks in Switzerland, praised efforts to keep the strait open and linked resolving the war to securing Iranian “respect.” From the Oval Office, he said: “As long as they respect us, I don’t want to use the word fear because that’s an inappropriate word, but as long as they respect us, we’re not going to have any trouble.” Trump also suggested reopening the waterway could create “an oil gusher.”
Iran,Access And Control
Iran effectively closed the strait after the US and Israel attacked on Feb. 28, a move that sent fuel prices sharply higher. The interim agreement was expected to reopen the channel. Dozens of ships passed through over the weekend despite the main route remaining mined and officially closed.
Iran’s parliamentary speaker and lead negotiator, Mohammad Bagher Qalibaf, said on Monday that Iran will manage the Strait of Hormuz while adhering to international law. “Hopefully we can activate the strait again, in terms of passage, and bring prosperity back to regional and global economy,” Qalibaf told Iranian state media on the plane returning from Switzerland.
Follow-Up Diplomacy
Arriving in Oman late on Monday, Iran’s parliamentary speaker Mohammad Bagher Qalibaf and Foreign Minister Abbas Araghchi conferred with Omani Foreign Minister Badr al Busaidi to push the diplomatic process forward.
The talks focused on advancing the wider peace initiative and agreeing steps to guarantee safe passage through the Strait of Hormuz, a key priority after recent disruptions in the waterway.
Sanctions, Oil And Shipping
The US Treasury issued a 60-day license waiving sanctions on Iranian oil as part of the interim accord, allowing limited Iranian oil imports to the US for the first notable time since the 1990s.
Tanker traffic rose with analytics firm Kpler recording 71 confirmed transits over the weekend, peaking at 35 on Saturday, though numbers remain well below the pre-war daily flow of 100–130 vessels as ships avoid the mined central route and use northern or southern alternatives. Brent crude fell 3.2% to $77.52 a barrel, while US benchmark crude dropped 2.6% to $73.86.
Lebanon Fighting Remains A Test
Iran and its negotiators hailed “major progress” on ending the Lebanon fighting, calling it the first real test of the mechanism. Foreign Minister Araghchi posted on X that mediators had delivered “major progress to end the Lebanon War,” but cautioned the measure’s success will depend on whether it halts hostilities between Israel and Hezbollah. Neither Israel nor Hezbollah signed the US-Iran interim deal.
