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Three major decisions involving Iran and the US: Tehran accepts two of Trump's conditions, leading to the lifting of the ban on oil sales; read the updates.
US-Iran Talks in Switzerland: An agreement has been reached between the US and Iran on several issues. Following tensions on the first day, the second day of talks yielded positive results, with both nations agreeing to various terms.
The negotiations between the US and Iran in Switzerland have been successful. The Iranian delegation has accepted two conditions of the US. The US delegation has also given two major reliefs to Iran. The US has relaxed the sanctions on Iran's oil exports for 60 days. It has also accepted the condition of freezing $6 billion in Qatar. Iran has also agreed to open the Strait of Hormuz for the movement of ships and to allow the International Atomic Energy Agency (INEA) to inspect its nuclear sites. As such, now nuclear inspectors of the United Nations (UN) will be deployed in Iran.
Iran gets license for 60 days The US Treasury Department has granted Iran a 60-day license, valid until August 21, 2026. This license will allow Iran to sell its crude oil. Many countries, including India, will be able to purchase Iranian crude oil again. Iran has also been granted permission to deliver and sell petrochemical products and petroleum derivatives. However, this license will not apply to transactions with North Korea and Cuba, as both countries are subject to US sanctions
Ships will be able to pass freely through the Strait of Hormuz. According to US Treasury Secretary Scott Bessant, Iran has accepted America's condition of ensuring unhindered movement of ships through the Strait of Hormuz. Iran has also agreed to redeploy inspectors from the United Nations (UN) nuclear agency IAEA in the country and allow them to work. The MoU signed between the US and Iran includes 14 issues, on which talks were held in Switzerland to reach an agreement. The relaxation of sanctions on Iranian oil and the unhindered movement of ships through the Strait of Hormuz were the two major conditions on which both countries have reached an agreement.
Iranian delegation moves to Oman Following talks with the United States in Switzerland, Iranian Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi departed for Oman. The two leaders will discuss issues related to the management of the Strait of Hormuz with the Oman government, strengthening Iran's preparedness for managing the Strait of Hormuz, and enhancing cooperation between the two countries.
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