US and Iran near MoU on ceasefire extension and nuclear talks amid Hormuz and Lebanon tensions

Iran Says US To Unfreeze $12BN, Insists It Alone Will Decide How Funds Used, Contradicting Vance Among the biggest latest developments in the immediate wake of the Switzerland meeting is that Iranian Parliament Speaker Mohammad Bagher Ghalibaf has announced an agreement has been reached for the United States to release $12 billion in frozen Iranian assets. It also comes after the US Treasury Department announced temporary sanctions relief, namely freeing up Iranian oil and petrochemical sales until August 1st. Concerning the frozen asset partial release, Tehran is now emphasizing that it alone will decide how the funds will be used. But this may be another area where the headlines and declarations are too far out front, given Washington has sought to impose some caveats which likely remain unacceptable to the Iranians side. For example Vice President JD Vance made clear his stance Monday that Iranian assets had not yet been unfrozen as part of the deal, describing that if there were, they must be limited in use and implementation - to purchase US agricultural goods. He has emphasized - perhaps wishing to address American domestic criticisms - that the funds would not be used to support terrorism. Ali Bahreini, the Iranian ambassador to the United Nations, has already firmly rejected the soybean plan, saying at a UN press briefing, "Iran is the only country who will decide what to do with its assets, which are going to be defrozen." In total a whopping $50 billion could eventually be released under the MoU framework - something which will drive Republican hawsk mad. Al Jazeera reports Tuesday, citing the Iranian side:  A spokesperson said the agreement would allow Iran access to previously frozen assets, although the US says restrictions would remain in place under the arrangement. According to sources familiar with the negotiations, two separate tranches of $6bn were originally agreed in Doha, with the final signing ceremony intended to take place in Switzerland. The Iranian spokesperson now says that process has been completed. Under the reported framework, an initial $12bn in Iranian funds would be released. During the 60-day negotiation period, a further $12bn could be unlocked. If the parties ultimately reach a final agreement, the value of sanctions relief and released funds could reportedly rise to as much as $50bn. Another point of disagreement remains the entry of IAEA nuclear inspectors into the Islamic Republic. Vance had hailed Tehran already agreed to this, while Iran's leaders are in effect saying not so fast. It's but one of several major contradictions in public rhetoric coming from either side in the wake of the top-level round one meeting in Switzerland. Something interesting - which Washington may or may not be on board with - is that Tehran is now signaling openness to Russia hosting its enriched nuclear material. Iran says the Strait of Hormuz is “fully” open to commercial shipping and that large volumes of oil have been transported through the waterway in recent days, according to the semi-official Iranian Students’ News Agency. — Javier Blas (@JavierBlas) June 23, 2026 Al Arabiya reports that Iran's aforementioned UN ambassador says "transferring enriched uranium to Russia is under consideration." This could indeed be enough to satisfy President Trump, considering it would be a 'lesser evil' option if indeed the Iranians are actually ready for such a plan (which Moscow has offered several times to facilitate over the past year). Lebanon is another issue which could threaten to unravel all the progress made thus far, but reports cite a 'cautious calm' across the south, but with some limited, sporadic exchanges of fire. One correspondent on the ground reports, "Here in Tyre, people driving across the city this morning are picking up bits of rubble, starting to clear things out and searching for what they can salvage among their destroyed homes and businesses. That is what people are using this moment of calm for." However, there's been reports of at least two new Lebanese deaths. In one instance Lebanese national media indicated "A young man was killed and two others were injured” when Israeli soldiers "opened machine gun fire in their direction while they were standing near an excavator which was clearing a road" in a locality near the town of Nabatieh - per the National News Agency. Hezbollah is saying Tuesday that this violates the ceasefire agreement. The situation on Monday was such that the Iranian delegation almost quit the Sunday-Monday talks completely, Iran's top negotiator has explained: Iran's Ghalibaf: In the middle of the discussions, I learned that Trump had made threatening remarks regarding our president, the negotiating team, and possible attacks on our territory. I told Vance: “We are here engaged in talks, and according to the signed understanding,… pic.twitter.com/Oi0jKrXf19 — Clash Report (@clashreport) June 22, 2026 *  *  * Below are some latest developments on the US-Iran peace front via Middle East Eye: Iranian Parliament Speaker Mohammad Bagher Ghalibaf said an agreement had been reached to release $12bn in frozen Iranian assets. The US Treasury Department announced temporary sanctions relief allowing Iranian oil and petrochemical sales until 1 August. Washington said the measures follow Iran’s commitment to permit international nuclear inspections after intensive talks in Switzerland. President Donald Trump said released Iranian funds would be used to purchase food and agricultural products from US farmers. Iran’s Central Bank rejected Trump’s comments, saying Tehran is under no obligation to spend released funds on American goods. Iranian officials said technical negotiations with the United States have concluded and the process is entering a new phase. President Masoud Pezeshkian said the effectiveness of future talks depends on all sides fully implementing their commitments. A US official said Centcom has launched a monitoring mechanism in Lebanon to provide American officials with assessments of fighting on the ground. Israeli officials reiterated that military operations in Lebanon would continue despite ongoing diplomatic progress between Washington and Tehran. Markets and regional observers continued to focus on sanctions implementation, Hormuz shipping activity and the durability of the broader agreement. Tyler Durden Tue, 06/23/2026 - 07:20

BURGENSTOCK, Switzerland (AFP)—The United States suspended sanctions on Iranian oil on Monday after Vice President JD Vance said Iran would allow UN nuclear inspectors to return to the country. "We laid a very good foundation for a successful final deal," Vance told reporters following talks at Switzerland's luxury Burgenstock resort aimed at ending the US-Israeli war with Iran. Iranian Foreign Ministry spokesman Esmaeil Baqaei said for his part that "a very brief discussion took place regarding the nuclear issue, but there was no discussion of details." In Washington, President Donald Trump said the Strait of Hormuz, the critical channel for much of the world's oil, is now "totally open" to shipping. Iran closed the waterway early in the war, sending economic shock waves across the globe. "We're negotiating -- we'll see how that all goes -- but we have two things," Trump said. "We have an open strait and we have a country that will never have a nuclear weapon." Tehran and Washington signed a memorandum of understanding last week laying the groundwork for the Switzerland negotiations after nearly 40 days of fighting that were followed by a shaky ceasefire. The negotiations aim to tackle some of the most intractable issues that have dogged US-Iranian relations for decades, including Tehran's nuclear program. "The final deal is the house," Vance said. "We haven't built the house, but we've laid a successful foundation to get to a good place for the American people." The US Treasury said it was temporarily lifting sanctions on Iran to allow it to produce, sell and deliver crude oil and related products through August 21. Treasury Secretary Scott Bessent cited Tehran's commitment to "free and open transit" in the Strait of Hormuz and permission for International Atomic Energy Agency (IAEA) inspectors to enter Iran as reasons for pausing the sanctions. - 'Classic Trump deal' - Vance said Tehran had agreed to invite IAEA inspectors "back to their country," calling it "a major milestone... and the first step in permanently denuclearizing" Iran. Tehran suspended some cooperation and blocked IAEA inspectors from accessing key nuclear sites bombed by the United States and Israel in 2025's 12-day war, and inspectors have not been able to visit Iran since November. Vance said Iranian assets had not yet been unfrozen as part of the deal and that, if they were, they would be used to buy US goods such as soybeans and would not fund terrorism. He called it "a classic Trump deal, where if Iranian assets are ever unfrozen, they're going to go to make American farmers richer and to feed the Iranian people." Iran's Foreign Minister Abbas Araghchi, meanwhile, posted on social media: "Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for Iran." US Secretary of State Marco Rubio is due to start a trip to the United Arab Emirates, Kuwait and Bahrain to discuss the deal and "efforts to secure full and free safe transit through the Strait of Hormuz," his spokesman Tommy Pigott said. Mediators Pakistan and Qatar said the US and Iranian negotiators reached agreement on a "roadmap towards reaching a final deal within 60 days" with technical talks to continue for the rest of the week at the Swiss resort. "Encouraging progress has been made," they said, including a contact channel set up to "avoid incidents and miscommunication" in the Strait of Hormuz. - Lebanon - Before the conflict began, there was free international passage through the strait, but Tehran appears keen to monetize the waterway as part of any deal. Tracking data on Monday showed vessels were still transiting the strait, despite Iran saying on Saturday it had closed it again over Israeli attacks in Lebanon. In the weeks and days before the US-Iran talks, the war in Lebanon between Israel and Iran's close ally Hezbollah threatened to derail the ceasefire, though the country has been relatively calm since Saturday evening. A "de-confliction cell" between the parties and the Lebanese authorities has been agreed to prevent fighting from erupting again. Israeli leaders have nonetheless expressed deep misgivings over the deal, and Prime Minister Benjamin Netanyahu on Monday insisted Israeli troops "have full freedom of action to thwart any direct or developing threat" in south Lebanon. The overall death toll from the fighting in Lebanon has now surpassed 4,100, according to the Lebanese health ministry.

US suspends Iran sanctions after 'good progress' in talks Submitted by MEE staff on Mon, 06/22/2026 - 19:47 The first round of US-Iran negotiations concludes with a temporary lifting of sanctions but progress on the nuclear issue muddied by both sides US Vice President JD Vance speaks to the media after the US and Iran held high-level talks at the Lake Lucerne Summit in Switzerland, 22 June 2026 (Nathan Howard/AFP) Off The US suspended sanctions against Iran on Monday as the two sparred over nuclear and weapons inspections during a day of talks that US Vice President JD Vance characterised as "good progress".  US Treasury Secretary Scott Bessent announced it would be temporarily lifting sanctions until 21 August under a 60-day general licence that authorises Iranian oil production and sales. Any transactions during this period must be made in US dollars. "In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country," Bessent wrote on X. The lifting of sanctions will be a boon for Iran which used to produce around 4.6 million barrels of oil per day, exporting around 1.5 million barrels per day before the US imposed its own blockade to compete with Iran's closure of the Strait of Hormuz.  The move has been framed by the US as a concession made in response to Iran opening up the Strait of Hormuz and allowing IAEA inspectors into the country but the Iranian government has cast doubt on that version of events.  IRNA, a state-run news agency reported that Iran's foreign ministry spokesperson Esmail Baghaei said it did not negotiate over the nuclear issue and "no new commitments" had been made regarding inspections during talks.  Baghei added that any engagement with the agency would take place “under existing procedures set by Parliament and the Supreme National Security Council”.  Shortly after that statement, US President Donald Trump chimed in on Truth Social saying: "Everybody is fully aware that Iran will agree to have Major Weapons Inspections in order to ensure 'Nuclear Honesty' long into the future." Iran stressed that any agreements to let inspectors in would not be made without parliamentary approval and the sign-off of the Supreme National Security Council. Under the nuclear deal with Iran negotiated by Barack Obama, the IAEA had unprecedented continuous access to monitor Iran's nuclear sites as well as uranium mines.  The US and Iran are holding talks in Switzerland under the auspices of the Islamabad Memorandum of Understanding (MOU) that was signed between the two countries bringing hostilities to a halt for a 60-day period to allow for "technical negotiations". Monday's talks concluded the first High-Level Committee Meeting under the framework of the Islamabad MOU, with Pakistan's Prime Minister Shehbaz Sharif hailing it a success and announcing that a roadmap towards a final deal within 60 days had been achieved during the summit. Pakistan and Qatar are mediating the talks with Vance leading talks from the US end, while Iran's chief negotiator is Mohammad Bagher Ghalibaf. Diplomatic blitz The first round of talks also kickstarted a flurry of diplomatic activity, with a number of top diplomats announcing trips in and around the region on the sidelines of the negotiations.  The US confirmed that its Secretary of State Marco Rubio would be attending the Gulf Cooperation Summit in Bahrain, a visit Middle East Eye first reported on 10 June. Rubio will also make stops in the UAE and Kuwait.  Bahrain, the UAE and Kuwait were some of the Gulf states that were hit hardest by Iran during the war, with the UAE taking the most hawkish position on the war and even carrying out strikes against Iran according to Trump.  The visit would be the first by a senior US official to the Gulf since the US and Israel attacked Iran on 28 February.  US top diplomat picks Bahrain as first wartime Gulf visit, sources say Read More » Bahrain, which hosts the headquarters of the US Fifth Fleet in Manama, has been one of the countries most affected by the conflict, with the facility coming under attack during its early stages. Beyond military infrastructure, Bahrain's industrial sector has also sustained significant damage. The Financial Times reported that Amazon's cloud computing operations in Bahrain were struck. Oman, Qatar and Saudi Arabia took a softer approach and hedged their positions during the war, with public condemnations of Iran's retaliatory attacks on the Gulf but Saudi Arabia at the same time pushing for talks between the US and Iran. Oman became another focal point during the war, with the Trump administration increasingly irritated with its reluctance to publicly reject Iran's position that it will continue to charge fees for passage through the Strait of Hormuz. Trump even threatened to bomb Oman if it joined a framework to charge tolls in the strait. Oman is the only other country in the Gulf aside from Iran that can lay claim to the Strait of Hormuz. After Monday's talks, Iran's chief negotiator Ghalibaf announced on his Telegram account that he would be traveling to Oman to discuss bilateral cooperation and joint efforts to "consolidate" the management of the Strait of Hormuz. Iranian Foreign Minister Abbas Araqchi will also be present during the visit. Pakistan announced on Monday that Iran's President Masoud Pezeshkian would visit Pakistan on Tuesday to continue discussing the negotiations.  War on Iran News Post Date Override 0 Update Date Mon, 05/04/2020 - 21:19 Update Date Override 0

Iran Agrees To Invite Nuclear Inspectors Back As Vance Hails 'Great Progress' After A Little 'Threatening & Whining' Axios is reporting Monday morning Iran has agreed to invite IAEA inspectors back to the country, according to fresh words of Vice President J.D. Vance, who focused all day prior and much into the overnight on forging a path forward toward permanent peace. The two sides are seeking to hammer out a long-term nuclear agreement, now amid the technical talks process, as delegation heads depart Switzerland - leaving diplomatic teams behind. The 60-day roadmap begins. If indeed the UN nuclear inspectors are eventually let back into Iran, this would be a hugely significant step. This would be to verify compliance to the preliminary agreement, Vance further hails: "Our hope is that we get to the final deal and a permanent settlement. But right now, I think we’ve made great progress and we should all celebrate that in terms of when the nuclear inspectors are going to start," the American Vice President told reporters. via AP He described that he phoned UN nuclear inspectors at 2am last night to update them on the developments, however, he said that no one picked up the call. "As you can expect, not many people are answering their phone at two in the morning," said Vance. "I expect that will happen at the minimum this week, but we think even some of those conversations with the inspectors and with the IAEA could happen as soon as today." Both warring sides appear to finally be in the same page in terms of issuing 'positive' and 'encouraging' assessments earlier. There were reports of last-minute disagreements, threats, and warnings that the process could collapse near the conclusion of yesterday's formal round one of talks. "So they didn’t walk out, and their technical team is still here in Burgenstock working with our technical team," Vance explained. "What we told the Iranians yesterday is, 'When you guys exchange in what us millennials might call trash talk, you can't expect the president of the United States not to respond and not to correct the record'." Vance conceded that in the end there was a "a little bit of threatening" and "whining but at the end of the day, the talks continued and we made great progress." He further described that a mechanism had been established to keep the Strait of Hormuz open, while noting that significant work remained and that technical negotiations would continue. Also, importantly he said that a "very good foundation" was laid for a successful final agreement with Iran. JD Vance: I can't stay here for the next 60 days. I will go back to the U.S. The technical teams will be working. pic.twitter.com/s9PSTRvMSR — Clash Report (@clashreport) June 22, 2026 The Iranian delegation, led by Mohammad Bagher Ghalibaf, also left the venue in Switzerland today - after approximately 18 hours of talks and consultations. Meanwhile a fresh note from Goldman Sachs comments: The Pakistan-Qatar communiqué, alongside comments from the Iranian Foreign Minister highlighting progress in negotiations, suggests we are heading into a prolonged period of talks rather than a near-term resolution. My base case remains that Iran will continue to use the threat of disruption around Hormuz as negotiating leverage rather than pursuing a definitive resolution. The most striking feature of the oil market today is the sheer size of speculative short positioning. There is a substantial amount of capital betting on lower prices, which locally makes further downside more challenging. That is before considering the more fundamental point that it is not obviously in Iran’s interest to allow oil prices to fall too far while negotiations remain ongoing. China too has expressed hope Iran and the US will maintain the momentum and ultimately work towards positive progress, Foreign Ministry spokesperson Guo Jiakun said Monday from Beijing. He praised the mediation efforts by Pakistan, Qatar and other parties when asked about the Iran-US talks in Switzerland, the Xinhua news agency reported. "China supports Pakistan and Qatar and all relevant parties in their mediation efforts," Guo said. New Iran MFA statement: However, while an uneasy calm has taken over Lebanon, with analyst Mohanad Hage Ali of the Malcolm H Kerr Carnegie Middle East Center in Beirut stressing: "The conflict now in Lebanon is waiting for another spark,” said Mohanad Hage Ali from the Malcolm H Kerr Carnegie Middle East Center in Beirut." "It just became a buffer zone, a kind of a punching bag in which anyone who wants to score can use it, whether to get at the US-Iran negotiations – which Israel specifically is not very happy about – or from the Iranian side, where a faction unhappy with how negotiations are going can sabotage them through the Lebanon front," he explained. Tyler Durden Mon, 06/22/2026 - 08:00

Burgenstock: Iranian Foreign Ministry spokesperson Esmail Baghaei on Sunday (local time) said that US President Donald Trump's threats against the Islamic Republic during ongoing technical talks as part of the 14-point memorandum of understanding (MoU) led to the suspension of the quadrilateral meeting between the US, Iran, Qatar and Pakistan in Switzerland, even as discussions continued on Iranian oil sales, frozen asset releases and mechanisms related to maritime security in the Strait of Hormuz. According to Iranian state media Islamic Republic of Iran Broadcasting (IRIB), Baghaei said that while technical-level discussions progressed, Iran decided not to continue the quadrilateral format following Trump's warning to Tehran of hitting it "very hard" if the Islamic Republic "immediately stop their highly paid proxies in Lebanon".Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble. If they don’t, we’ll hit Iran very hard again, just like we did last week, only harder!!! President DONALD J. TRUMP( TS: Jun 21 2026, 9:30 AM ET )​​​‍​​‌‍​​‌‍​​​​​​​‌‍​​​​​​​​‌‍​​​​​​​​​‌‍… pic.twitter.com/4FYtEyoF8s— Commentary Donald J. Trump Truth Social Posts On X (@TrumpTruthOnX) June 21, 2026 "The war on all fronts, including Lebanon, must end," Baghaei said, adding that discussions also focused on remaining clauses required to begin final negotiations.He said issues related to the issuance of licences for Iranian oil sales and the release of frozen Iranian assets were also discussed, with what he described as progress on both fronts.#Iran’s Foreign Ministry Spokesperson: With the presence of mediators, a mechanism has been established to ensure and monitor the termination of war in Lebanon and across all fronts. https://t.co/v9svcp3XE7 pic.twitter.com/VvbIYY7MyK— Iran Nuances (@IranNuances) June 22, 2026 "The issuance of the necessary licenses for the sale of oil and the release of Iranian assets were discussed, and good progress was made," he said, as quoted by IRIB.Baghaei added that discussions also included establishing a mechanism to ensure safe maritime passage through the Strait of Hormuz, which he described as a key point of concern."A mechanism was to be established regarding the safe passage of ships through the Strait of Hormuz, which is important," he added.Baghaei further said that Iran had participated in lengthy discussions that began on Sunday morning, but tensions escalated during the quadrilateral meeting.Tireless Pakistani and Qatari mediation has delivered major progress to end Lebanon War. Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for Iran. 1st real test: Lebanon deconfliction cell https://t.co/q0okD2qwSO— Seyed Abbas Araghchi (@araghchi) June 22, 2026 "During the quadrilateral meeting, the US's threatening statement was published, which caused Iran to announce that it was not willing to continue the quadrilateral meeting under such circumstances," Baghaei said.Iranian Parliament Speaker MB Ghalibaf described the remarks as a sign of American 'desperation' while sharply criticising the US President, dismissing the comments as ineffective.Following Trump's remarks, Ghalibaf, who is also the chief negotiator from the Iranian side, in a post on X said that Iran would not be intimidated by such threats from Washington and asserted that the country's armed forces were prepared to respond if necessary.با خودشان فکر نمی‌کنند که اگر تهدیدهایشان نتیجه‌ای داشت، به استیصال امروز نمی‌رسیدند؟ ما تهدیدهای آمریکایی‌ها را به جایی حساب نمی‌کنیم.بهتر است مراقب اظهارنظرهای خود باشند، نیروهای مسلح ما آماده‌اند تا به نحوی دیگر پاسخشان را بدهند. هر چه حرف بزنند، این ماییم که عمل می‌کنیم.— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) June 21, 2026 His remarks came in response to a statement by Trump, who warned Iran against supporting its 'proxy groups' in the region, particularly in Lebanon, in a veiled reference to Hezbollah.In a post on Truth Social, Trump said, "Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble. If they don't, we'll hit Iran very hard again, just like we did last week, only harder!!!"According to the spokesperson, Qatar and Pakistan attempted to keep the talks going in a four-party format, but Iran declined.US-Iran Talks In Switzerland Begin With Emergency Session On Israel-Hezbollah Conflict Amid Strait Of Hormuz Dispute "Qatar and Pakistan tried to continue the talks, and we said that it would not be in a quadrilateral format," he said.Baghaei stressed that Iran's position was that accountability for commitments must be ensured, particularly in light of concerns over compliance and alleged ceasefire violations by Israel.He added that discussions also covered the framework for a potential final agreement, including mechanisms for monitoring implementation of obligations under the memorandum of understanding.'An Indian & A Pakistani Are The Most Important People....': JD Vance's Unexpected Remark After Iran Talks Goes Viral | Video "At this stage, the work of the negotiating team has ended, but the technical teams will continue their work tomorrow," he said, as quoted by IRIB, adding that mediators Qatar and Pakistan would issue a document summarising the agreements reached during the 18-hour session.He further said that oil sales and the release of frozen assets were key preconditions for moving forward toward a final agreement under the memorandum's provisions. (Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Vance In Switzerland Projects Cautious Optimism While Trump Reminds Iran Of 'Harder' Military Options On Table Update(10:00ET): With Vance and Witkoff in Switzerland, President Trump is still issuing some US redlines via Truth Social, and via apparent 'official leaks' - and quite quickly - through the press. Trump is warning the Iranians on the sticking points of Hormuz closure and the Lebanon crisis. He has newly threatened on Sunday to hit Iran again if it can't constrain its proxies, namely Hezbollah, in Lebanon. In parallel, Tehran is demanding that Washington reign in Israel. A fresh Sunday Truth Social... brief but firm: And more on some fresh reported warnings and pressure coming from Trump: "You close it and you won't have a country." President Trump said he told Iranian officials about the Strait of Hormuz. "You won't even make it back to your fu*king country." "We may take over the Strait, if we have to," Trump said. "If they don't make a deal, we'll collect… pic.twitter.com/cErvdjCJmK — Trey Yingst (@TreyYingst) June 21, 2026 As the American delegation continues the high-stakes negotiations in Switzerland aimed at de-escalating, the White House is projecting cautious optimism while simultaneously reminding Tehran that military options remain firmly on the table. Speaking as talks entered a critical phase, Vice President JD Vance said Sunday from Switzerland Washington has "made great progress over the last few hours" and expects "additional progress in the coming hours," describing the negotiations as an opportunity to "turn over a new leaf" in US-Iran relations. Vance emphasized that the administration's preference is not to return to the cycle of confrontation, adding that the US is willing to fundamentally transform ties with Iran if Tehran permanently abandons its nuclear ambitions. "The question is how much more we can achieve in the Middle East," Vance said, while expressing confidence regarding the Lebanon front and signaling satisfaction with ongoing efforts to contain broader regional escalation. Yet Trump has just delivered a stark reminder of the consequences should negotiations fail. According to Fox News, Trump warned Iranian officials that closing the Strait of Hormuz would be an existential mistake, reportedly telling Tehran that it "won't have a country" if it attempts to choke off global energy flows, in the segment above. Trump also issued a personal warning to Iranian President Masoud Pezeshkian, saying he "better watch his mouth," while reports indicated the president used unusually blunt language during discussions with Iranian intermediaries over the strategic waterway. President Trump spoke with the Iranians overnight warning them not to close the Strait. "You close it and you won't have a country," Trump said he told Iranian officials. "You won't even make it back to your fu*king country." — Trey Yingst (@TreyYingst) June 21, 2026 Perhaps most notably, Trump reiterated that he retains a "60-day option" and can "do whatever" he deems necessary after that period expires, a statement widely interpreted as preserving the possibility of renewed military action. The president also reportedly threatened additional strikes against Iran should Tehran's regional proxies in Lebanon resume attacks or undermine the emerging diplomatic framework. The result is a familiar carrot-and-stick approach as talks are unfolding under the shadow of explicit US military threats and a rapidly approaching deadline that could determine whether the region moves toward détente or another round of escalation. But Iran has also made known that it is ready of a long war, but will Trump be willing to risk enduring the political and economic fallout? *  *  * Qatar's Foreign Ministry has formally confirmed the launch of the talks between the United States and Iran with the mediation of Qatar and Pakistan in Switzerland, with the Iranian delegation headed by Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi. US Vice President JD Vance is leading the American side along with envoy Steve Witkoff. Also gathered at the Buergenstock Resort Lake Lucerne, near Stansstad, are Pakistan's Chief of Army Staff Field Marshal Asim Munir, and Pakistan's Prime Minister Shehbaz Sharif. Qatar has expressed "its aspiration that these meetings will lead to the conclusion of a comprehensive and permanent agreement addressing all aspects covered in the Memorandum of Understanding." Iran has reiterated it wants a comprehensive settlement and final end to the war. But it also demands a final Lebanon-Israel peace settlement be linked in. Already there could be an inkling of progress on the nuclear front: PAKISTAN:US, IRAN AGREED ON REDUCTION OF ENRICHED URANIUM LEVEL PAKISTAN:IRAN'S ENRICHED URANIUM TO BE REDUCED FROM 60% TO 0.7% IRAN PRESIDENT SAYS QATAR TO RELEASE $6B AS TALKS START: IRNA Screengrab via Government of Pakistan footage The last time Vance sat physically across from Iran's lead negotiator Ghalibaf was a full ten weeks ago, in mid-April. Interactions appear to initially be only through intermediaries, which will build up to face-to-face meetings, as happened in prior failed rounds.  Qatar's foreign ministry has previewed the following planned format to the opening of the talks as follows: The ministry statement says “specialized technical and expert groups have been formed to negotiate the terms of the final agreement, which will cover all aspects of the Memorandum of Understanding” between the US and Iran. “Additionally, follow-up groups have been established to oversee the implementation of the Memorandum, monitor progress achieved, and work toward the conclusion of the final agreement,” it added. “This reflects the commitment of all parties to moving forward in the negotiation process in good faith, with the aim of reaching a comprehensive and sustainable agreement.” Of course, in terms of "implementation" of just the MoU itself, things are not quite there yet, as sporadic fighting and Israeli aerial attacks continue in Lebanon, which could serve to derail the Switzerland process at any moment. After roughly 45 min, the bilateral meeting between FM @araghchi and his Swiss counterpart @ignaziocassis came to a close at Bürgenstock Hotel. Quadrilateral talks between Iran, the US, Pakistan, and Qatar are expected to commence shortly at another venue on the same premises. pic.twitter.com/hOmovguWFs — IRNA News Agency ☫ (@IrnaEnglish) June 21, 2026 Additionally, Iran has declared it has 'closed' the Strait of Hormuz just this weekend, but which the US military has been denying is a reality. VP Vance in media appearances has also been downplaying it. The Lebanon situation seems the bigger, more pressing threat to the peace process - at least from Tehran's point of view. Dozens of people in Lebanon have been killed while at least six Israeli soldiers have been slain, with 20 wounded over past days of Hezbollah rocket and drone attacks. As a reminder, President Trump doesn't want to oversee an economic catastrophe driven by a worldwide energy crisis. It seems he's ready to anything to not let it happen under his watch: President Donald Trump said Wednesday that he was motivated to finalize the memorandum of understanding (MOU) with Iran to prevent “economic catastrophe” if the war was not resolved soon. “So rather than possibly going into a depression, rather than having your favorite president be Herbert Hoover, he was always the one I didn’t want to be,” Trump said of the 31st president whose policies are often blamed for starting the Great Depression. “I didn’t want to see economic catastrophe. If you kept this going, that could have happened. But all I know is, every time we talked about the possibility of peace, the stock market shot up like a rocket ship,” Trump said during a press conference Wednesday on the sidelines of the G7 Summit in Évian, France. And so judging by this and other of recent Trump admissions, Iran clearly enters Switzerland in very strong negotiation position. Its current rhetoric regarding the Strait of Hormuz also reveals this. JD Vance met with Pakistan's Prime Minister Shehbaz Sharif and Army Chief Asim Munir in Switzerland.pic.twitter.com/5bteI1Vtyu — Clash Report (@clashreport) June 21, 2026 Tehran has accused the US of a "clear breach of its commitments" and announced Saturday that "the Strait of Hormuz will be closed to the passage of vessels," according to state broadcaster IRIB. For more on the details of the format, CNN has reported some further information in the following: When and where do the talks start? US and Iranian negotiators will begin their meeting at around 1 p.m local time (7 a.m. ET) at the Swiss mountain resort of Bürgenstock, an Iranian source told CNN. Who will be there? Both the United States and Iran have sent high-level officials to Switzerland. Vice President JD Vance is heading up the US side, while Iran’s lead negotiator, Mohammad Bagher Ghalibaf, will lead Tehran’s delegation, Iranian media outlet Saberin News reported Saturday. What format will they take? Iran’s Foreign Ministry spokesman, Esmail Baghaei, who is part of the Iranian team, earlier told state media “the Iran-US talks will be held in a quadrilateral format, with the presence of Pakistani and Qatari delegations.” What will be discussed? Lebanon is likely set to top the agenda after clashes between Israel and Hezbollah threatened the nascent agreement between the US and Iran. Vance says he hoped he would make advancements on negotiations surrounding the handling of Iran’s nuclear materials. To put things in perspective about the long road ahead, analyst and reporter James Bayes - who is on the ground for the talks in Switzerland, has offered the following: "This is a very different deal from the Iran nuclear deal that was done by [former US] President Barack Obama … things have changed completely. But I think it’s worth looking at that deal for one reason, which is the timeline – how long these things take." Iranian Foreign Minister Seyyed Abbas Araghchi, center, arrives at the Buergenstock resort in Obbuergen, near Lucerne. Pool via AP "Because when they did an interim deal then, in November 2013 until the final deal in 2015, it took 597 days," the correspondent added. "So, even though the circumstances have changed – it’s a very different deal and they’ve got the knowledge of that deal as well which is helpful – it’s a lot to do in just 60 days." Tyler Durden Sun, 06/21/2026 - 10:00