U.S. Vice President JD Vance and senior Iranian representatives arrived in Switzerland on Sunday to officially begin negotiations aimed at addressing Tehran’s nuclear program and advancing the fragile interim agreement designed to end the conflict in Iran, as reported by AP.
The preliminary framework, signed last week, has set the stage for an intensive 60-day effort in which leading negotiators from both countries will work to finalise the technical aspects of a deal with far-reaching consequences for global security and the international economy.
However, the agreement is already facing significant challenges. Just days after its signing, renewed clashes erupted in Lebanon between Israel and the Iran-backed Hezbollah movement. Tensions were further heightened when Iran’s military announced the closure of the Strait of Hormuz, a critical maritime route through which roughly one-fifth of the world’s traded oil and natural gas supplies pass.
U.S. Central Command disputed Iran’s claim that it had once again shuttered the strait and said U.S. forces continued to monitor the situation to ensure traffic continues to flow through the waterway. Vance has said that millions of barrels of oil have moved through the strait in recent days.
Vance departed the U.S. just after Iranian state TV said Iran’s negotiators had arrived in Switzerland. Tehran’s negotiators include parliamentary speaker Mohammad Bagher Qalibaf and Foreign Minister Abbas Araghchi, along with officials from the central bank and the oil sector, AP reported.
The agreement signed by Trump and Iranian President Masoud Pezeshkian immediately allows Tehran to sell its oil freely and paves the way for Iran to tap into billions of dollars in assets that are currently frozen. It also calls for Iran to dilute its stockpile of highly enriched uranium, believed to be buried under nuclear sites that were targeted in U.S. strikes last summer.
The agreement says commercial vessels can pass through the Strait of Hormuz for 60 days without a charge, but does not preclude future fees imposed by Iran. Trump made his own threat on Saturday to levy U.S. tolls on the strait if there is no deal with Iran in 60 days, insisting in a social media post that the money would be for “services rendered as the Guardian Angel to the countries of the Middle East.”
The Trump administration has sought to calm concerns in global financial markets by portraying the conflict with Iran as a temporary disruption to oil prices. The effort comes as many Americans have expressed frustration over rising gasoline costs during the busy summer travel season, which they attribute to the war.
Following the White House’s announcement of the agreement last week, oil futures fell by nearly 8%, signalling increased confidence among investors. Market participants are expected to closely monitor developments in the negotiations when trading resumes on Sunday evening.
The agreement between the United States and Iran has been further complicated by the absence of both Israel and Hezbollah from the deal. Israeli Prime Minister Benjamin Netanyahu has pledged to keep Israeli forces deployed in southern Lebanon until any security threats to Israel are fully neutralized. Hezbollah, on the other hand, has insisted that it will continue its operations unless Israel commits to a complete withdrawal from Lebanese territory.
The ongoing tensions quickly turned deadly after the U.S.-Iran accord was reached. In the first few days following the agreement, hostilities between Israel and Hezbollah claimed the lives of 47 people in Lebanon and four members of the Israeli military.
The strait has become a major point of concern, with Iran’s joint military command announcing on Saturday that it had once again closed the waterway, citing what it called a U.S. violation of its commitments by failing to bring the conflict to an end. The temporary agreement was intended to halt hostilities across all fronts, including in Lebanon, where Israeli forces continue to fight the Hezbollah militant group, AP reported.
The United States rejected Iran’s claim, with U.S. Central Command stating that maritime traffic remains uninterrupted. According to the command, 55 commercial vessels passed through the strait on Saturday, transporting more than 17 million barrels of oil.
Shipping activity resumed after the interim agreement between Washington and Tehran was signed last week. As part of the deal, the U.S. ended its blockade of Iranian ports and allowed Iran to resume unrestricted oil exports. These concessions have prompted some members of Congress to question whether the war achieved its intended objectives.
The interim deal signed by Trump and Iranian President Masoud Pezeshkian gives negotiators 60 days to reach a nuclear agreement, but the time can be extended.
(With inputs from AP)
Mausam Jha is a journalist who focuses on world affairs and politics. She provides clear, informative reporting with a good understanding of both global events and their local impact.

Her clear, accessible reporting on political and international issues makes her a trusted source of news and analysis.

For the past three years, Mausam has worked with Mint, covering national politics, IR—including elections—and global affairs.
Before joining her current role, she gained experience working with The Statesman, ANI, and Financial Express, where she honed her skills in political and international news.

She has consistently tracked key electoral battles, including US elections, Japan elections, policy debates, and strategic affairs, explaining how global currents, from great power competition to regional conflicts

Beyond journalism, Mausam has a deep engagement with international relations, diplomacy, war studies, terrorism, political history, and political theory. She is particularly interested in the intersection of statecraft and society on how governance, ideology, and institutions shape lived realities, and how politics shape today's world order.

An avid reader of classical literature and political thought, she constantly explores the connections between historical ideas and contemporary policy challenges.
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