US Vice President JD Vance on Monday characterized the latest round of technical negotiations between the United States and Iran in Burgenstock, Switzerland, as a highly productive 36-hour session, highlighting advances on maritime security, regional stability, and nuclear oversight under a 14-point memorandum of understanding aimed at ending West Asia hostilities.
Key Outcomes: Strait of Hormuz and Ceasefire Framework
Speaking to reporters before departing Switzerland after discussions with Iranian representatives, Vance expressed strong optimism about the progress achieved. A central outcome was an agreement to maintain the Strait of Hormuz open and secure, a vital waterway for global oil shipments. According to Vance, the mechanism ensures the strait remains operational, supporting the flow of approximately 15 million barrels of oil daily, which he linked to current low oil prices and anticipated further reductions in gas prices. He stated, 'We set up the mechanism to ensure not only the Straits of Hormuz are open but will stay open. We think about 15 million barrels of oil come out; that's one of the reasons why oil is so low right now, which also means lower gas prices and gas prices will keep coming down.'
Additionally, the talks established a framework to support a regional ceasefire and manage potential future conflicts, particularly concerning Israeli strikes on Lebanon. Vance noted, 'We actually set up the right mechanism to ensure the regional ceasefire to manage the inevitable conflict that might come up.'
Breakthrough on Nuclear Inspections
A significant breakthrough, according to Vance, was Iran's agreement to allow nuclear inspectors into the country. He described this as a major step, stating, 'We have the Iranians allowing weapons inspectors, nuclear inspectors, into the country for the first time in a long time. We will bolster the inspection so that the regime can never have any nuclear weapons.'
Vance emphasized that technical negotiations would continue, with both sides leaving team members in Switzerland to advance discussions. He said, 'We continue to make progress on these technical negotiations. We have left a lot of our team; the Iranians left a lot of their team. All in all, this has been a very productive 36 hours.'
Verification and Asset Release Conditions
Highlighting the importance of verification, Vance cautioned that commitments alone are insufficient. He remarked, 'You can't trust anybody's words--you have to trust what they actually do. Letting in the inspectors is a big deal--but again, we're going to see what they actually let the inspectors do once they're in the country. That's going to continually be part of our negotiation.'
Regarding the possible release of frozen Iranian assets, Vance stated that any decision depends on continued progress. He said, 'Fundamentally, that money is not going to be unfrozen unless we continue to see progress, and that will obviously be a big part of the negotiation in the days to come.'
Switzerland Welcomes Diplomatic Progress
Switzerland welcomed the developments from the diplomatic exchanges hosted at Burgenstock, which also involved Pakistan and Qatar. In a post on X, the Swiss Ministry of Foreign Affairs noted that the establishment of a High-Level Committee under the Memorandum of Understanding and an agreed roadmap toward a final agreement within 60 days represent important progress. The ministry stated, 'Switzerland welcomes the constructive progress achieved through the intensive diplomatic exchanges held at the Burgenstock between the United States, Iran, Pakistan and Qatar.'
The Swiss MFA added that the agreement provides a framework for the next phase of negotiations and enables immediate technical discussions, reaffirming Switzerland's readiness to support dialogue, de-escalation, regional stability, and peace through its good offices.
