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The first round of talks is expected to be held on Sunday in Switzerland, with Vance seeking progress on Iran’s nuclear programme and the Lebanon ceasefire issue.
US Vice President JD Vance said Washington expected the Strait of Hormuz to be open without fees. (Reuters)
US Vice President JD Vance arrived in Switzerland for the first round of US-Iran negotiations, following an initial delay in the peace talks last week. The discussions, likely to take place on Sunday, are expected to involve reciprocal steps on Iran’s nuclear programme and frozen financial assets.
According to Axios, citing two regional sources, Washington wants the first round to end with Iran extending an invitation for UN inspectors to visit its nuclear facilities, which we and Israel earlier bombed.
In exchange, the US is reportedly considering releasing a portion of Iran’s frozen funds, beginning with a $6 billion account held in Qatar. The money would be directed towards humanitarian purchases.
A 60-day negotiation window is part of an interim peace deal signed by US President Donald Trump and Iranian President Masoud Pezeshkian, marking the start of a broader process aimed at ending the long-running conflict. However, concerns remain over possible disruption from Israel.
While Vance departed Washington on Saturday, Pakistan’s Prime Minister Shehbaz Sharif and Army Chief Field Marshal Asim Munir also travelled to Burgenstock to take part in the talks as mediators. Pakistan’s foreign ministry said, “Pakistan will continue to support the implementation of the understandings between Iran and the United States,” Reuters reported.
Vance said before leaving Washington that his stay in Switzerland would be brief. Speaking to reporters, he stated, “I can only be there for a day or two. I think we’re going to hopefully make progress on the nuclear issue, make progress on the Lebanon ceasefire issue.”
The Iranian delegation includes Parliament Speaker Mohammad Bagher Ghalibaf, Foreign Minister Abbas Araghchi, and Central Bank Governor Abdolnaser Hemmati, according to state media IRIB.
The first round of talks is expected to be held on Sunday at the Burgenstock ski resort in Switzerland, with Vance seeking progress on Iran’s nuclear programme and the Lebanon ceasefire issue. He also said the aim is to establish an “actual structure” for negotiations.
As per Axios, based on inputs from two regional sources, the US hopes the round will conclude with Iran allowing UN inspectors access to its nuclear sites.
The last inspection visit took place in June 2025.
In return, Washington may permit Iran access to part of its frozen assets, starting with the $6 billion Qatar account, according to the report.
Vance expressed optimism ahead of the talks, saying that despite media coverage, conditions are improving and things are “slowing down a little bit.”
A US intelligence assessment has warned that Israeli Prime Minister Benjamin Netanyahu may attempt to disrupt the US-Iran negotiations amid domestic political pressure related to the situation in Lebanon.
Netanyahu, referred to as “Bibi,” is under pressure to continue military operations against Hezbollah, with the Washington Post reporting, citing the intelligence report, that his political standing could depend on maintaining troop presence in Lebanon.
An Israeli official told the Washington Post that “Israeli military activity in Lebanon is for the sole purpose of defending Israeli citizens from continuous attacks by Hezbollah.”
The report further suggested that continued Israeli operations could affect both the peace talks and Netanyahu’s relations with Trump.
While Israel maintains it is committed to a ceasefire, US officials remain sceptical about whether those commitments will hold.
Tensions around the Strait of Hormuz continue despite the interim agreement between the US and Iran. The waterway had briefly reopened after the deal was signed, following the lifting of a US naval blockade on Iranian ports.
Iran, however, maintained that no vessel could pass through the strait without its approval during the period.
The situation escalated again when Iran’s joint military command announced the closure of the strait in response to Israeli strikes in Lebanon and what it described as Washington’s “bad faith” in failing to end the war, calling it a breach of the interim agreement.
Iran warned that if aggression continues, “subsequent steps have been planned.”
US President Donald Trump posted on Truth Social that there would be no tolls during the 60-day ceasefire window for passage through the Strait of Hormuz.
He added that tariffs could be imposed if the US-Iran peace talks fail, stating: “There will be NO TOLLS in the Hormuz Strait for 60 days during the Cease Fire Period, and there will be NO TOLLS after the 60 days has expired, unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs.”
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