Following 18 hours of continuous high-level talks in Switzerland, the United States and Iran have reached consensus on several key issues. Both sides agreed in principle to release nearly $12 billion of Iranian state assets that had long been frozen in international banks. At the same time, Washington announced a temporary easing of certain sanctions on Iran’s oil and petrochemical sectors.
As part of the agreement, Iran has agreed to allow inspectors from the International Atomic Energy Agency (IAEA) to resume work at its nuclear facilities. In return, the United States has granted Iran limited-time permission to export oil and petrochemical products in the international market, a concession that will remain valid until 1 August. Pakistan and Qatar played a significant mediating role in the negotiations.
Parallel to this process, signs of a new understanding have also emerged regarding the strategically vital Strait of Hormuz. Iran has declared that administrative control over this crucial waterway will remain under Tehran’s authority. Iran’s chief negotiator, Mohammad Bagher Ghalibaf, stated that the Hormuz Strait will not return to its previous status and will be managed by Iran in accordance with international law. However, it has also been decided to establish a dedicated communication mechanism with the United States to ensure the safety of commercial shipping.
Following the agreement, a new dispute has emerged over the use of the released funds. The United States has suggested that a portion of the unblocked money should be used to purchase American agricultural products. However, Iran’s Central Bank has rejected this claim, stating that decisions regarding the use of the funds are entirely Iran’s sovereign matter and will be determined according to national interest.
Analysts say the agreement marks a significant diplomatic breakthrough in US–Iran relations, but long-term solutions remain uncertain regarding nuclear policy, sanctions, and regional security issues.