US-Iran talks make significant progress in Switzerland; Hormuz channel set up to avert incidents

Zurich: Iran and the US achieved significant progress in the first round of talks facilitated by Qatar in Switzerland, with the aim of ending the nearly four-month-long war. Towards this, a new mechanism is being finalised to continue technical discussions for implementing a memorandum of understanding and possible waiver on Iranian oil exports and a reconstruction plan for the Persian Gulf country.

Iran and the US are planning to hold technical talks at the working level in Switzerland this week.

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A constructive atmosphere prevailed during the first day of the summit on Sunday, where encouraging progress was achieved, including the establishment of the mechanism to continue technical discussions, in the presence of US vice president JD Vance, ET has learnt.

Safe and free passage of commercial vessels through the crucial Strait of Hormuz waterway will be a major relief to India. The US lifted its naval blockade of Iran last Thursday, allowing oil tankers to resume movement through the strait, including three ships to India.

The two sides are also forming working groups on Iran's nuclear programme and Western sanctions. A communication channel has been set up to avert future misunderstandings or incidents in the strait. The aim is to ensure safe passage for ships through the Hormuz.

In addition, a forum has been set up to ensure compliance with the ceasefire in Lebanon, where there have been repeated mutual attacks between the Israeli army and pro-Iranian Hezbollah group, ET has further learnt.

Iranian foreign minister Abbas Araghchi, who also attended the negotiations in Switzerland, said on Monday there was "major progress" in the talks with the US, claiming that curbs on Tehran's oil and petrochemical exports have been waived and that the US has lifted its naval blockade. He also said that some frozen assets of Iran have been released, and a major reconstruction and development plan is in the offing.

Qatar, which played a critical role in mediation with its Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani present during the talks and assisting in creating future arrangement, said in a statement, "A positive and constructive atmosphere prevailed during the first day of the Lake Lucerne summit, where encouraging progress was achieved, including the establishment of a mechanism to continue technical discussions."

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The US side didn't comment directly during the night on the outcome of the first day of negotiations. On the Iranian side, alongside Araghchi, parliamentary speaker Mohammed Bagher Ghalibaf, among others, took part in the negotiations.

(The reporter is in Switzerland on an invitation from the Swiss government)