Iran announced on Tuesday that it had reached an agreement with the United States to secure the release of $12bn in frozen Iranian assets during the first round of negotiations held in Switzerland, where both sides reported progress toward a permanent agreement aimed at ending months of conflict and easing regional tensions.
Mohammad Ghalibaf, head of the Iranian negotiating team, said the talks produced understandings on several key issues, including the release of frozen funds, arrangements concerning the Strait of Hormuz, and mechanisms related to Lebanon.
According to Ghalibaf, the two sides agreed to establish a coordination centre and a direct hotline to address any incidents involving commercial shipping during a 30-day transitional period in the Strait of Hormuz. He stressed that the arrangement was designed solely to resolve maritime disputes and emergencies while reaffirming that responsibility for managing the strategic waterway remains with Iran.
Ghalibaf also said the discussions included guarantees related to Lebanon’s sovereignty, plans to facilitate the return of displaced Lebanese civilians, and the eventual withdrawal of Israeli forces from Lebanese territory. He described the progress on Lebanon, the Strait of Hormuz, frozen assets, and oil sanctions as among the main achievements of the Swiss negotiations.
The announcement came as technical talks involving Iran, the United States, Qatar, and Pakistan concluded in Switzerland. Kazem Gharibabadi, Iran’s deputy foreign minister and head of the Iranian technical delegation, said the parties had agreed on the framework for future negotiations and established four working groups focused on sanctions relief, the nuclear file, reconstruction and economic development, and implementation and monitoring mechanisms.
Iranian officials characterised the talks as constructive. Iran’s ambassador to the United Nations in Geneva, Ali Bahraini, said “good progress” had been achieved and confirmed that additional working groups would soon begin discussions on sanctions relief and nuclear-related issues.
Despite the diplomatic momentum, significant differences remain. Iranian Foreign Ministry spokesperson Esmaeil Baghaei rejected suggestions that international inspectors would be granted access to nuclear facilities damaged during US and Israeli strikes, denying remarks by US Vice President J.D. Vance that implied Tehran had accepted such inspections.
Iran also insisted that five provisions of the memorandum of understanding must be implemented before comprehensive nuclear negotiations can begin. Iranian officials repeatedly emphasised that continued Israeli military actions in Lebanon would constitute a violation of the agreement.
Iran’s ambassador to the United Nations, Amir Saeid Iravani, warned that Tehran would respond if Israel breached the memorandum “in any way”, including through attacks on Lebanon or Hezbollah. He described further strikes on Beirut or southern Lebanon as a red line for Tehran.
President Masoud Pezeshkian said Iran remained committed to the full implementation of the memorandum within the framework of international law and the rights of the Iranian people. He argued that successful implementation would help reduce regional tensions and restrain what he called aggressive actors.
“The effectiveness of the talks depends on full commitment to agreed obligations and their precise implementation,” Pezeshkian said, adding that statements deviating from agreed understandings would not help advance negotiations.
On the US side, President Donald Trump struck a cautiously optimistic tone, saying Iran was performing “very well” regarding the Strait of Hormuz and describing the waterway as “completely open”. He nevertheless warned that Washington would act if Tehran failed to honour its commitments.
“As long as Iran respects us, we will have no problem,” Trump told reporters. “If they do not comply with the agreement, I will do what I have to do.”
The diplomatic effort is increasingly drawing regional and international involvement. US Secretary of State Marco Rubio began a tour of the Gulf on Tuesday, with stops in the United Arab Emirates, Kuwait, and Bahrain to discuss implementation of the memorandum, maritime security, and regional stability.
Meanwhile, Qatar reiterated its support for dialogue with Iran. Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani said Gulf states shared a common view that engagement with Tehran through diplomacy remained the best path to addressing regional challenges and preserving stability.
In another sign of easing tensions, Denmark announced the reopening of its embassy in Tehran after more than three months of closure due to the conflict. The decision followed a similar move by Italy and was described by Copenhagen as a response to improving security conditions in Iran.
