BUERGENSTOCK, Switzerland — U.S. Vice President JD Vance said Monday that recent talks with Iranian officials in Switzerland have established what he described as a “good foundation” for a possible final peace agreement, even as tensions persist over maritime security in the Strait of Hormuz and ongoing conflict dynamics involving Lebanon.
Vance made the statement following negotiations held at the Swiss mountain resort of Buergenstock, where mediators from Pakistan and Qatar said both sides agreed on a roadmap toward a permanent agreement within 60 days, building on an interim deal signed the previous week.
According to the mediators, the discussions also produced initial understandings on several key security and economic issues, including a mechanism aimed at reducing hostilities in Lebanon between U.S. ally Israel and Iran-aligned Hezbollah, as well as the establishment of communication channels to help ensure safe passage for commercial shipping through the Strait of Hormuz, a critical global oil route.
“We laid a very good foundation for a successful final deal,” Vance told reporters after participating in the talks.
He also said Iran agreed in principle to allow international nuclear inspections and to establish mechanisms addressing frozen overseas assets and ceasefire arrangements. However, inspections have remained limited in recent months following disruptions to International Atomic Energy Agency (IAEA) access amid ongoing military tensions in the region.
Iranian Foreign Minister Abbas Araqchi, posting on social media, said Tehran had secured waivers related to oil and petrochemical exports, partial release of frozen assets abroad, and the launch of a reconstruction and development plan.
Vance also said White House envoy Jared Kushner proposed a framework involving the United States and Qatar managing Iranian funds once unfrozen, with allocations intended for the purchase of U.S. agricultural goods such as corn, soy, and wheat.
Following the interim agreement last week, the U.S. Treasury Department issued a general license on Monday authorizing certain Iranian-origin crude oil and petrochemical transactions through August 21, according to officials cited in the report.
Pakistani Prime Minister Shehbaz Sharif said on X that the first round of talks “concluded successfully,” describing the discussions as taking place in a “positive and constructive atmosphere” with “encouraging progress.”
The negotiations come amid heightened regional volatility following disruptions in maritime traffic through the Strait of Hormuz and renewed concerns over escalation risks. Oil prices, which had surged earlier during the crisis, eased following the interim deal and fell further after Monday’s joint statement from Qatar and Pakistan, with Brent crude trading below $80 per barrel.
Before the talks formally began, U.S. President Donald Trump warned that Iran would face severe consequences if it attempted to close the Strait again, according to remarks cited by Fox News.
Iranian media, including the semi-official Tasnim news agency, reported that tensions briefly emerged during the discussions after Trump’s comments, with the Iranian delegation temporarily refusing to return to the negotiation room, though communication continued through mediators.
Despite earlier disruptions, shipping data indicated that maritime traffic through the Strait of Hormuz showed signs of resumption, with at least two crude tankers reportedly transiting the waterway on Monday, although volumes remained below pre-conflict levels.
The broader conflict involving Iran and Israel, along with allied forces and regional partners, has resulted in thousands of deaths across Iran and Lebanon since hostilities escalated earlier this year. Security conditions in parts of Lebanon have shown signs of easing in recent days, with reported reductions in airstrikes and the lifting of some Israeli military restrictions near the northern border.
Lebanese President Joseph Aoun, along with Qatari officials and U.S. envoy Jared Kushner, discussed efforts to maintain the ceasefire and prevent further escalation, according to the Lebanese presidency.
Israeli President Isaac Herzog said Israel supports a diplomatic resolution to the conflict but emphasized that any agreement must ensure Iran cannot redirect financial resources toward military activity or support for regional armed groups.
Technical-level discussions between the parties are expected to continue throughout the week, with mediators expressing cautious optimism over progress toward a longer-term settlement.
Edgardo Hernal started college at UP Diliman and received his BA in Economics from San Sebastian College, Manila, and Masters in Information Systems Management from Keller Graduate School of Management of DeVry University in Oak Brook, IL. He has 25 years of copy editing and management experience at Thomson West, a subsidiary of Thomson Reuters.
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