Iran Claims Major Progress in US Negotiations, Oil Sanctions Lifted
Iran’s Foreign Minister Abbas Araghchi announced on Monday morning that “oil and petrochemical exports are no longer restricted, the blockade has been lifted, some frozen assets have been released, and a major reconstruction and development plan for Iran has been launched,” according to reports.
The statement, shared on social media platform X, did not provide details concerning the frozen assets or the reconstruction plan.
Hossein Ghorbanzadeh, an economic expert within the Iranian delegation, previously stated that a draft agreement for a temporary exemption from US sanctions on Iranian oil and its derivatives had been finalized, according to the semi-official Iranian news agency Fars.
Araghchi also noted that the “first real test” will be the conflict resolution cell in Lebanon, which mediators from Qatar and Pakistan said had been agreed upon by the US and Iran and would help ensure an end to military operations in Lebanon.
His comments came immediately after Qatar and Pakistan announced significant progress in ongoing negotiations between the United States and Iran, following the conclusion of the first high-level discussion round at the Lake Lucerne Summit held in Bürgenstock.
According to a joint statement, the parties agreed to create a mechanism for “deconfliction” between the US and the Lebanese Republic, facilitated by mediators, to ensure respect for the cessation of military operations in Lebanon, in accordance with the memorandum of understanding.
US-Iran Negotiations Continue in Switzerland
Washington and Tehran announced in mid-June the signing of a peace memorandum aimed at ending the Middle Eastern war initiated by American-Israeli strikes against Iran in late February.
However, the peace agreement has been called into question due to the continuation of military actions by Israel in Lebanon, with Prime Minister Benjamin Netanyahu stating that the country is merely defending itself against further attacks from the terrorist group Hezbollah.
An Iranian delegation and an American delegation, led by Vice President JD Vance, arrived in Switzerland on Sunday to continue negotiations.
Although Washington and Tehran had previously agreed to a 60-day truce during the negotiations, the Iranian Revolutionary Guards claimed on Saturday that the Strait of Hormuz is closed. The American military denied this information, asserting that commercial vessels have continued to navigate through the Strait.
