The high-level talks between the US and Iran that were scheduled for Friday in Switzerland are off, the Swiss foreign ministry says.
“The planned talks between the US, Iran, Qatar and Pakistan have been postponed. Switzerland remains ready to facilitate these talks. The relevant preparatory work at Bürgenstock is continuing. No further information can be provided at present,” the Swiss Federal Department of Foreign Affairs said in a statement.
The trip was meant to solidify an agreement between Tehran and the US to end the four-month conflict in Iran and reopen the Strait of Hormuz, the crucial waterway through which 20% of the global supply of liquefied natural gas and oil flows.
As part of the 14-point memorandum of understanding (MoU) President Donald Trump and Iranian President Masoud Pezeshkian signed on Wednesday, commercial ships can resume traveling through the Strait of Hormuz. Iran has agreed not to charge tolls in the Strait for the next 60 days.
The US will begin lifting its naval blockade of the waterway right away, with the restrictions expected to be fully removed within 30 days, senior officials said.
In an update early Friday morning, global trade intelligence firm Kpler wrote that Hormuz traffic shows “recovery.”
“Verified Strait of Hormuz crossings reached 25 on 18 June, marking a notable increase in daily maritime activity,” Kpler wrote.
Hormuz traffic shows recovery
Verified Strait of Hormuz crossings reached 25 on 18 June, marking a notable increase in daily maritime activity. Traffic was evenly distributed across both directions, with most vessels following established Iranian route patterns. Five sanctioned… pic.twitter.com/kqnil079nf
— Kpler (@Kpler) June 19, 2026
Oil prices shot up after the Strait was closed on February 28, setting off what the International Energy Agency said in March was the largest disruption ever seen in global oil markets. Prices eased this week following the signing of the interim deal.
Earlier on Thursday, Vance said during a White House press briefing that his “plan is to go to Switzerland,” but he was unsure “exactly when.”
On Thursday evening, a White House spokesperson said Vance would not travel to Switzerland on Friday, per a statement to The New York Times.
“The plans for the upcoming technical talks have not been finalized, and the US delegation has been prepared to depart at the first available opportunity,” the White House said in the statement. “But the logistics of these negotiations have never been simple or predictable.”
The White House did not immediately respond to a request for comment from Business Insider.
As part of the MoU, the US and Iran also opened a 60-day timeframe for negotiations on Iran’s nuclear program.