US Vice President JD Vance announced on Friday that Iran has agreed to invite inspectors from the International Atomic Energy Agency (IAEA) for nuclear inspections as part of ongoing negotiations over its nuclear programme. Speaking to reporters, Vance described the latest round of talks as 'a good day for talks' and revealed that negotiators had continued discussions past 1 a.m., with technical teams from both sides working even as he returned to the United States. 'There is still a lot to do,' Vance noted, adding that discussions with nuclear inspectors could begin as early as Friday. The Vice President emphasized that 'Iran has agreed to invite inspectors for nuclear inspections' and that 'Iran has made a lot of good progress' in the discussions, marking significant progress in the 60-day negotiation framework established at the Swiss resort of Burgenstock.
On maritime security, Vance confirmed that the Strait of Hormuz remains open and that negotiators had established a mechanism to ensure the vital shipping lane remains operational. 'We set up a mechanism for keeping Hormuz open,' Vance stated, addressing concerns about the critical energy corridor. The immediate implementation involves the immediate reopening of the Strait of Hormuz, which has already shown significant results with more than 12.5 million barrels of oil passing through the strait overnight, the highest volume recorded since the start of the conflict. Under the memorandum, the US and Iran, along with their respective allies involved in the conflict, agreed to an immediate cessation of military operations and pledged not to initiate further hostilities or threaten the use of force against each other. The agreement commits both countries to respecting each other's sovereignty and refraining from interference in internal affairs.
Addressing regional security, Vance outlined the establishment of a deconfliction mechanism for Lebanon aimed at preventing further escalation, with the mechanism already producing positive results. The Vice President said the United States wants Hezbollah to stop firing into Israel and stressed that Washington wants Lebanon's sovereignty to be respected while ensuring Israel's security. Vance confirmed that the US remained in constant contact with Israeli officials throughout the negotiations and emphasized that Washington was not imposing any agreement on countries in the region. He added that President Donald Trump 'still has a lot of options' available if diplomacy fails, maintaining pressure on Iran while negotiations continue. The de-confliction cell involving the US, Iran, and Lebanon is enforcing the termination of military operations in Lebanon, with the mechanism designed to prevent incidents and ensure safe commercial passage through the Strait of Hormuz.
Responding to questions on frozen Iranian assets, Vance addressed the potential economic impact of any future releases. Any assets that are eventually unfrozen would benefit the Iranian people, according to Vance, while also noting that if Iranian assets are released, the development would make US farmers 'richer'. The comments come amid renewed diplomatic efforts to address Iran's nuclear programme and reduce tensions in the Middle East following weeks of heightened regional conflict. The agreement also contains significant economic commitments, with the United States pledging to work with regional partners on a reconstruction and economic development plan for Iran worth at least $300 billion, though the implementation mechanism is expected to be finalised as part of a comprehensive agreement. US Vice President JD Vance confirmed on Thursday that the formal negotiating clock began on June 18, stating 'I would say the 60-day period officially started today. So, yes, the deal started yesterday.'
The US and Iran have achieved a significant breakthrough at the Swiss resort of Burgenstock, with both sides agreeing on a roadmap aimed at reaching a final agreement within 60 days following two days of intensive talks. According to a joint statement issued by mediators Pakistan and Qatar on Monday, the talks took place under the framework of the Islamabad Memorandum of Understanding (MoU) signed by the US and Iran on Thursday to advance negotiations on regional security and other contentious issues. Pakistan Prime Minister Shehbaz Sharif and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani participated in the discussions, facilitating the negotiations between the US team led by Vice President JD Vance and the Iranian delegation led by Parliament Speaker Mohammad Bagher Ghalibaf. The statement noted that the High Level Committee has agreed upon a roadmap towards reaching a final deal within 60 days, laying the foundation for the immediate commencement of further technical talks. The joint statement confirmed the creation of a High-Level Committee providing political oversight, with chief negotiators leading dedicated working groups on nuclear issues, sanctions, and dispute resolution. Technical talks continue through the remainder of the week at Burgenstock, with the document stating that negotiations on a comprehensive settlement will begin once initial confidence-building measures—including the ceasefire, easing of maritime restrictions and economic relief provisions—are implemented.
