Day 110 | Iran and US to embark on two months of peace talks Friday
The United States and Iran are to launch talks on a final settlement to their conflict on Friday in Switzerland, officials said, as news that the Strait of Hormuz will reopen sent world oil prices tumbling.
Negotiations over a final deal are to start immediately after a signing ceremony and continue during a 60-day window, leading to decisions on the fate of Iran's nuclear programme and a plan for the lifting of international economic sanctions.
Optimism that the war triggered by the February 28 US-‘Israeli’ strikes on Tehran might be coming to an end was dented, however, by fresh ‘Israeli’ strikes on south Lebanon.
Iran's central military command, Khatam al-Anbiya, warned that Israel should "await a harsh response" to the strikes, which Lebanon's state news agency said targeted two vehicles in the town of Mayfadoun and another in nearby Shukeen, near the town of Nabatieh in southern Lebanon, killing four.
Friday's signing ceremony will take place at Switzerland's mountainside Burgenstock resort, perched high above Lake Lucerne, the Swiss foreign ministry said.
According to a senior US official, speaking on condition of anonymity, the framework agreement has already been signed electronically by President Donald Trump, Vice President JD Vance, Iran's deputy foreign minister Majid Takht-Ravanchi and top negotiator Mohammad Bagher Ghalibaf.
Ghalibaf will attend the signing and the US side will be represented by Vance, who said Trump might also attend.
The developments came after Trump said an Iranian blockade on the crucial Hormuz strait oil and gas route would be fully lifted by Friday, in a major boost to the global economy.
Iranian supertankers carrying 3.8 million barrels resume exports following blockade end
Iran has successfully exported its first significant crude oil shipments in approximately two months, marking a key development after the United States and Iran reached a framework agreement to end hostilities and lift the US naval blockade.
Maritime intelligence firm TankerTrackers reported that at least two supertankers operated by the National Iranian Tanker Company (NITC) — the Diona and Hero II — departed Iran on Monday, carrying a combined total of about 3.8 million barrels of crude oil.
The company verified the movements using tracking data corroborated by satellite imagery, confirming the vessels had sailed past the previous US naval blockade line.
This resumption follows the announcement of a preliminary deal between Washington and Tehran around mid-June.
The agreement aims to end the months-long conflict, reopen the Strait of Hormuz to commercial shipping, and lift the US naval blockade imposed earlier in response to regional tensions.
US President Donald Trump stated that he authorized the immediate removal of the blockade, describing the framework as a step toward broader stability.
The blockade, enacted in April, had severely curtailed Iranian oil exports, reducing them to near-record lows.
Data from firms such as Kpler and United Against Nuclear Iran indicated that crude oil shipments dropped dramatically in May, with exports falling below 300,000 barrels per day and no confirmed crude passing the blockade line for extended periods.
This resulted in substantial revenue losses for Iran, estimated in the billions of dollars, and the accumulation of floating storage.
Lifting restrictions could allow Iran to gradually restore export levels closer to pre-blockade figures, potentially easing pressure on global oil markets.
A tanker previously waiting near Pakistan has also begun moving toward the area, further signaling renewed activity.
The framework agreement includes provisions for a 60-day ceasefire extension and paves the way for further negotiations on issues such as Iran's nuclear program and sanctions relief.
Vance defends Iran talks: Engagement is not a 'reward'
US Vice President JD Vance strongly defended the Trump administration's ongoing diplomatic engagement with Tehran on Tuesday, pushing back against critics who view high-level engagement as a concession to the Islamic Republic.
Vance clarified that neither he nor President Donald Trump view direct negotiations as a "reward" for Iran.
Instead, the administration treats these direct channels as a serious, deliberate step aimed at producing tangible, positive results for the American people and securing long-term stability in the Middle East.
"Not a single dime" of American cash
Addressing intense domestic pushback over rumored financial incentives -including reports of a projected $300 billion reconstruction fund -Vance issued an absolute financial guarantee.
He emphasized that the White House will not authorize any direct American funding to the Iranian regime to secure the pact.
White House officials clarified that while the broader framework leaves the door open for external, commercial investments by third parties if Iran strictly complies with terms, zero US taxpayer dollars or government grants are attached to the diplomatic roadmap.
Testing Iran in Switzerland
The Vice President confirmed he will personally travel to Switzerland to attend the upcoming Geneva negotiations, which follow a breakthrough memorandum of understanding (MOU) brokered by Pakistani Prime Minister Shehbaz Sharif to end the months-long military conflict.
Vance noted that his attendance in Geneva mirrors his personal participation in the high-stakes Islamabad peace talks in Pakistan this past April.
By sitting across from the Iranian delegation -expected to be led by Iranian Parliament Speaker Mohammad Bagher Ghalibaf- Vance stated he intends to directly ascertain the true depth of Iranian intentions and evaluate exactly how serious Tehran is about fulfilling its commitments.
The upcoming Geneva round is expected to solidify the initial pact, which centers on immediately reopening the blockaded Strait of Hormuz to restore global shipping and oil flows, before transitioning into a rigorous 60-day negotiation window covering international sanctions and Iran's nuclear infrastructure.
Reaffirming the White House's long-term diplomatic strategy, Vance emphasized that the administration will remain actively engaged in these direct talks, unswayed by political pushback, as they aggressively pursue an outcome that secures American national interests.
Vance defends Iran talks: Engagement is not a 'reward'
US Vice President JD Vance strongly defended the Trump administration's ongoing diplomatic engagement with Tehran on Tuesday, pushing back against critics who view high-level engagement as a concession to the Islamic Republic.
Vance clarified that neither he nor President Donald Trump view direct negotiations as a "reward" for Iran.
Instead, the administration treats these direct channels as a serious, deliberate step aimed at producing tangible, positive results for the American people and securing long-term stability in the Middle East.
"Not a single dime" of American cash
Addressing intense domestic pushback over rumored financial incentives -including reports of a projected $300 billion reconstruction fund -Vance issued an absolute financial guarantee.
He emphasized that the White House will not authorize any direct American funding to the Iranian regime to secure the pact.
White House officials clarified that while the broader framework leaves the door open for external, commercial investments by third parties if Iran strictly complies with terms, zero US taxpayer dollars or government grants are attached to the diplomatic roadmap.
Testing Iran in Switzerland
The Vice President confirmed he will personally travel to Switzerland to attend the upcoming Geneva negotiations, which follow a breakthrough memorandum of understanding (MOU) brokered by Pakistani Prime Minister Shehbaz Sharif to end the months-long military conflict.
Vance noted that his attendance in Geneva mirrors his personal participation in the high-stakes Islamabad peace talks in Pakistan this past April.
By sitting across from the Iranian delegation -expected to be led by Iranian Parliament Speaker Mohammad Bagher Ghalibaf- Vance stated he intends to directly ascertain the true depth of Iranian intentions and evaluate exactly how serious Tehran is about fulfilling its commitments.
The upcoming Geneva round is expected to solidify the initial pact, which centers on immediately reopening the blockaded Strait of Hormuz to restore global shipping and oil flows, before transitioning into a rigorous 60-day negotiation window covering international sanctions and Iran's nuclear infrastructure.
Reaffirming the White House's long-term diplomatic strategy, Vance emphasized that the administration will remain actively engaged in these direct talks, unswayed by political pushback, as they aggressively pursue an outcome that secures American national interests.
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