Vance: 'Good progress' made on plan for final Iran deal

US Vice President JD Vance said "good progress" has been made in talks on a roadmap to a final peace deal within 60 days. The progress includes ensuring safe passage through the Strait of Hormuz, ending fighting in Lebanon and allowing international nuclear inspectors to visit Tehran.

"We laid a very good foundation for a successful final agreement," Vance told reporters on June 22 at the Burgenstock resort in central Switzerland, after talks between the parties ran through the night.

"The final agreement is the house. We laid the foundation; we haven't built the house yet, but we have created a successful foundation to achieve a good outcome for the American people," he said.

Few key details have been released, but the agreement appears to reflect the ambitious goals announced in the memorandum of understanding (MOU) signed last week by the presidents of the US and Iran.

This memorandum left many of the terms of a 14-point agreement open to interpretation.

Vance said Tehran has agreed to allow the return of International Atomic Energy Agency (IAEA) inspectors to the country and that the parties have worked to create a "coordination mechanism" to keep the Strait of Hormuz open for energy transport, as well as to clear mines in the area, in order to avoid disruptions to global oil and gas flows.

Earlier, the mediators of these talks from Qatar and Pakistan said that although the formal negotiations for the first session had concluded, further technical discussions will be held by the delegations over the next week.

According to them, "working groups" will be created to address nuclear issues, sanctions, as well as a group for monitoring and resolving disputes, with the aim of ensuring the effective implementation of the memorandum of understanding and other issues.

Iran's Foreign Ministry, in comments reported by Iranian state media, said the US blockade of ports had been lifted, that "some frozen assets" had been released and that a "major development and reconstruction plan for Iran" had been launched.

A ministry spokesman said that, regarding the safe passage of ships through the Strait of Hormuz, "it was agreed to organize a mechanism," without providing further details.

Officials said the talks lasted 18 hours.

Vance, special envoy Steve Witkoff and Jared Kushner – US President Donald Trump’s son-in-law – led the US negotiating team. Iranian Parliament Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi led the Tehran delegation.

The mediators added that, based on the memorandum of understanding between Washington and Tehran, "the parties have agreed to establish a High-Level Committee, which will provide political oversight of the mediation process."

"The committee has agreed on a roadmap towards reaching "a final agreement within 60 days, laying the foundation for the immediate start of further technical talks," the statement said.

According to what is further stated in the statement, a "line of communication" has been established for a 60-day period, "to avoid incidents and misunderstandings", with the aim of ensuring the safe passage of commercial ships through the Strait of Hormuz.

Likewise, a "deconfliction cell" will be created with the involvement of the US, Iran and Lebanon - facilitated by mediators - to ensure the end of military operations in Lebanon, as envisaged in the memorandum of understanding.

Araqchi echoed Vance's comments in a post on X, saying that "great progress" has been made in the talks.

"Mediation by Pakistan and Qatar has brought great progress to end the war in Lebanon," Araqchi wrote.

"Exports of oil and petrochemical products have been exempted from restrictions, the blockade has been lifted, some frozen assets have been released, and a major reconstruction and development plan for Iran has been launched," he said.

Washington has pledged to facilitate the release of a $300 billion reconstruction fund, backed by countries in the region, once a broader final agreement is reached on Iran's nuclear program.

The agreement – ​​particularly the creation of the reconstruction fund and the lack of clarity on the Iranian nuclear program – has been met with anger by American Democrats and many Republicans.

Vance responded to these concerns by saying that, if Iranian funds are ever unblocked, the US will ensure that "Iranian money is used to help the people of Iran and not to fund terrorism."

Many Israeli leaders have also expressed doubts about some aspects of the talks, stressing that their country is not a party to the agreement and vowing to continue attacks on Hezbollah positions in Lebanon.

Hezbollah, backed by Iran, is a militant group and political party that controls most of southern Lebanon. It is considered a terrorist organization by the United States, while the European Union has blacklisted its military wing, but not its political branch./ REL