US and Iran agree 60-day roadmap, lift oil sanctions in Swiss talks

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26 days · 11 summary articles
US and Iran lay groundwork for Middle East peace after 18-hour talks in Switzerland, agreeing to a 60-day roadmap, a Lebanon ceasefire, and the reopening of the Strait of Hormuz while Washington temporarily waives oil sanctions on Tehran. The breakthrough, brokered in Burgenstock under Pakistani and Qatari mediation, was hailed by US Vice President J.D. Vance as laying “a very good foundation” for a final deal, while Iran’s Parliament Speaker Mohammad Bagher Qalibaf confirmed the establishment of working groups and implementation mechanisms. Technical teams are set to resume talks this week as both sides prepare for the next phase of negotiations.
The United States will temporarily lift sanctions on Iranian oil exports, allowing Tehran to re-enter global energy markets as part of the 60-day peace negotiations. US Energy Secretary Jared Kushner said oil traffic through the Strait of Hormuz could return to pre-war levels, though it remains unclear who will control the strategic waterway. Iran’s top negotiator, Mohammad Ghalibaf, also announced an agreement to release $12 billion in frozen assets, a move that could inject significant liquidity into the Iranian economy. Oil prices fell to early March levels following the announcement, reflecting market optimism over the diplomatic progress.
Iranian President Masoud Pezeshkian traveled to Pakistan on Monday for consultations with Prime Minister Shehbaz Sharif, who described the first high-level US-Iran meeting as yielding “encouraging progress.” The two leaders are expected to discuss the implementation of a strategic pact estimated to add more than $12 billion to Iran’s economy, as Tehran strengthens ties with its eastern neighbor amid ongoing US-mediated talks. Meanwhile, Iran’s Parliament Speaker Qalibaf and top diplomat Abbas Araghchi arrived in Muscat for further consultations on a new framework for managing the Strait of Hormuz, following the Swiss negotiations.
The Swiss Foreign Ministry welcomed the “constructive” progress, noting that the parties had established a high-level committee and agreed on a 60-day roadmap toward a final settlement. China urged both sides to sustain the diplomatic momentum, voicing support for Pakistan and Qatar as mediators. Iranian President Pezeshkian warned that strict adherence to the Islamabad Understanding is essential for the success of the negotiations, cautioning that deviation from agreed terms could derail efforts to end the war in Lebanon and reopen the Strait of Hormuz.
While the breakthrough represents a significant diplomatic achievement, key details remain unresolved, including the control of the Strait of Hormuz and the extent of international inspections of Iran’s nuclear program. Technical talks will continue in the coming weeks as mediators seek to build on the progress made in Switzerland.
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