The Iranian Deputy Foreign Minister stated today that negotiations held in Switzerland between delegations from Iran and the United States have concluded with the creation of four distinct working groups.
According to Kazem Gharibabadi, future negotiations will be conducted under the supervision of a high-level committee including the president of the Islamic Consultative Assembly, the Iranian Foreign Minister, the U.S. Vice President, and the Prime Ministers of Qatar and Pakistan, though no specific date was set for these upcoming talks.
The Iranian representative, who led the technical negotiating team, added that it was decided to form four specific working groups focusing on the suspension of sanctions, the nuclear program, reconstruction and economic development, and monitoring and implementation.
Furthermore, Gharibabadi stated that an agreement was reached for the immediate release of 12 billion dollars in frozen Iranian funds, and noted that the United States has issued a specific license officially authorizing the sale of oil produced within Iran.
Read more about this topic: US and Iran hold initial post-MoU talks in Switzerland
On Monday, the U.S. Department of the Treasury issued a license authorizing the production, sale, transport, and import of Iranian crude oil, petroleum products, and petrochemical derivatives for a period of 60 days until August 21.
Treasury Secretary Scott Bessent stated on social media that, in line with productive discussions in Switzerland, Iran committed to ensuring open transit through the Strait of Hormuz and allowing International Atomic Energy Agency inspectors into its territory.
On Monday, U.S. Vice President JD Vance stated from Bürgenstock, Switzerland, that very good progress had been made during the opening of negotiations with Tehran on Sunday.
Vance affirmed that the strategic Strait of Hormuz is open and that the International Atomic Energy Agency will be allowed to enter Iran. Following the preliminary agreement, the United States lifted the blockade on Iranian ports and coastlines that had been imposed back in April.
Read more about this topic: Iran War: Trump denies US will pay $300 billion to Tehran
Before the embargo, Iran normally exported more than 1.5 million barrels of oil per day, but this volume fell to 260,000 barrels per day in May according to an analysis by CNBC.
On Monday, chief negotiator Mohammad Bagher Ghalibaf stated that the Strait of Hormuz will not return to its pre-conflict status with Israel and the U.S., guaranteeing that Tehran will manage the waterway while respecting international regulations.
