Oil export curbs waived, blockade lifted: Iran says 'major progress' in US talks
Iran and the US have made significant strides in peace talks, with mediators Qatar and Pakistan announcing major progress. Discussions in Switzerland have led to agreements on oil exports, asset releases, and a development plan for Tehran. A roadm...
By ET Online | Updated:
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US-Iran deal: Oil tankers and cargo vessels anchored off Port Sultan Qaboos
Iran's Foreign Minister Abbas Araghchi said on Monday there was "major progress" in talks with the United States, adding that oil and petrochem export curbs are waived, US blockade is lifted, some frozen assets are released, and a major reconstruction and development plan is launched for Tehran.
"Pakistani and Qatari mediation has delivered major progress to end Lebanon War," Araghchi posted on X.
Mediators in the US-Iran peace deal, Qatar and Pakistan issued a joint statement on conclusion of the first high-level committee meeting with participation of Washington and Tehran.
The countries announced that the first session of high level talks under the framework of the Islamabad Memorandum of Understanding (MoU) have concluded in Burgenstock, Switzerland, with the participation of representatives from the Islamic Republic of Iran, the United States of America, and the two mediating parties, the State of Qatar and the Islamic Republic of Pakistan.
"The Lake Lucerne Summit was conducted in a positive and constructive atmosphere. Encouraging progress has been made including the creation of a mechanism for further technical talks," it added.
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According to the joint statement, the US and Iran have agreed to the establishment of a High Level Committee, which will provide political oversight on the mediation. Chief negotiators from both the nations are said to report regularly to the High Level Committee and lead working groups focused on nuclear, sanctions, and a monitoring and dispute resolution group to ensure the effective implementation of the MoU, and on other matters.
Final deal within 60 days
The High Level Committee has agreed upon a roadmap towards reaching a final deal within 60 days, Pakistan and Qatar said in the joint statement, adding that the commitment lays the foundation for the immediate commencement of further technical talks.
"A communication line between the parties has been formed for the period mentioned in paragraph 5 of the MoU to avoid incidents and miscommunication with the aim of safe passage for commercial vessels through the Strait of Hormuz," it added.
Washington and US have also agreed on the creation of a de-confliction cell between the parties, Lebanon and facilitated by the mediators to ensure the adherence of the "termination of military operations in Lebanon" as per the MoU.
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Technical talks will continue for the remainder of the week at the Burgenstock resort on all issues, the mediators said.
Qatar and Pakistan will continue to mediate and ensure that the negotiations continue to be conducted in a constructive atmosphere with the aim of reaching a final deal.
Negotiators from both the nations, along with mediators, worked through the night after high-level US-Iran talks on their interim deal to end the war had a tense start on Sunday in Switzerland. Tehran took offense at the US President Donald Trump's threat to attack and his warning that Iran's president should watch what he says.
Trump's comments complicated efforts by US Vice President JD Vance and mediators Pakistan and Qatar to keep Iran engaged in discussions meant to address long-standing issues like Tehran's nuclear program, the Strait of Hormuz, the unfreezing of billions of dollars in Iranian assets and end of Israeli attacks on Lebanon.
“Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble,” Trump said on social media. “If they don’t, we’ll hit Iran very hard again, just like we did last week, only harder!!!”
Following Trump's comments, Iran's lead negotiator, Mohammad Bagher Qalibaf said, “They would do better to be careful about their statements. Our armed forces are prepared to respond to them in a different manner. They may keep talking, it is we who act.”
Iranian state media as quoted by AP said talks had entered a “difficult phase” and recessed after the “publication of an insulting message by the US President.” The Iranian delegation then met with Qatari mediators and left the negotiating site, state media reported.
