(NewsNation) — Vice President JD Vance said Monday talks with Iranian officials in Switzerland had laid a “good foundation” for a final peace deal, despite tensions over the Strait of Hormuz and Lebanon.
“The final deal is the house,” Vance told reporters after initial talks with Iran’s parliamentary speaker, Mohammad Bagher Qalibaf. “We set the foundation. We haven’t built the house, but we’ve laid a successful foundation to get to a good place for the American people.”
Vance and U.S. officials claimed progress on multiple fronts, including the establishment of “mechanisms” to ensure the Strait of Hormuz, a vital waterway for global energy shipments, stays open and that a ceasefire holds in the fighting between Israel and Iran-backed Hezbollah militants in southern Lebanon.
Iran and the United States have agreed to a 60-day roadmap toward a final nuclear deal following high-level talks in Switzerland this weekend, according to a joint statement from mediators Qatar and Pakistan.
US-Iran negotiations end for the day, continue tomorrow in Switzerland
The talks, held at the Burgenstock resort, concluded in what negotiators described as a “positive and constructive atmosphere.” Technical discussions are set to continue at the resort through the end of the week.
As part of the agreement, the parties established a High Level Committee to provide political oversight of the mediation process. Chief negotiators will lead working groups focused on nuclear issues, sanctions, and a monitoring and dispute resolution mechanism.
The parties also agreed to open a direct communication line aimed at preventing incidents and ensuring safe passage for commercial vessels through the Strait of Hormuz. A “de-confliction cell” will also be established to end the fighting in Lebanon.
Qatar and Pakistan, serving as mediators, said they will continue working to keep negotiations on track as both sides push toward a final agreement.
Trump was not in Switzerland but loomed large over talks
The mediation effort in Switzerland started Sunday and stretched into early Monday, and technical talks will continue this week.
President Donald Trump did not attend what was dubbed the “Lake Lucerne Summit,” but his presence certainly loomed large. The talks were jolted by statements from Trump, who, from thousands of miles away, fired off comments that offended the Iranians.
Iranian state media said talks had paused after the “publication of an insulting message by the U.S. President.” The negotiations later continued.
Vance pushed back against the notion that Trump’s threats complicated the talks.
“No, they didn’t throw a wrench in the system,” Vance said. He added, “Yes, they did threaten to walk out, or at least there were social media threats that they would walk out. But we were negotiating well past one in the morning yesterday, so they didn’t walk out.”
Vance floats unfreezing Iranian assets to purchase US goods
The vice president suggested that the U.S. could agree to unfreeze Iranian assets for purchases of U.S. soy, corn and wheat. He said Jared Kushner, Trump’s son-in-law and one of the lead U.S. negotiators, came up with the idea with officials from Qatar.
Vance said Qatar would have approval over the process, and Iranian money that would be accessible as sanctions were lifted would buy American products “for the benefit of the Iranian people.”
Iran, which has pressed for the unfreezing of billions of dollars in assets, has not commented on the idea. The assets have been made inaccessible over years of sanctions, banking restrictions and legal disputes imposed by the U.S. and international community on the Islamic Republic.
Vance to lead next round of US-Iran talks as tensions simmer
Vice President JD Vance is set to lead the next round of talks between the US and Iran, marking one of the highest-profile diplomatic tests of his tenure.
The announcement comes as Iran’s parliament speaker pushed back against President Trump, who threatened Iran “won’t have a country” if it continues restricting access to the Strait of Hormuz.
The speaker said the waterway is not Trump’s “personal casino.” Trump also warned of new attacks if Iran does not stop funding proxy forces in Lebanon.
Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to NewsNation.