Vance and U.S. officials claimed progress on multiple fronts, including the establishment of \u201cmechanisms\u201d to ensure the\u00a0Strait of Hormuz<\/a>,\u00a0a vital waterway for global energy shipments<\/a>, stays open and to address fighting between Israel and Iranian-backed Hezbollah militants in southern Lebanon, where a ceasefire appeared to be holding.<\/p>\n The interim deal<\/a>\u00a0to end the fighting in Iran, signed last week by the leaders of the U.S. and Iran, sets a 60-day period for negotiations on key issues, including the future of\u00a0Tehran\u2019s nuclear program<\/a>\u00a0amid concerns that Iran wants to use it for military purposes, a claim the country denies.<\/p>\n The vice president departed Switzerland as technical teams were still negotiating, and U.S. President Donald Trump talked up the efforts to keep the strait open to create \u201can oil gusher\u201d as he stressed that the key to resolving the war was \u201crespect\u201d from Iran.<\/p>\n \u201cAs long as they respect us, I don\u2019t want to use the word fear because that\u2019s an inappropriate word, but as long as they respect us, we\u2019re not going to have any trouble,\u201d Trump said from the Oval Office.<\/p>\n Iran effectively closed the strait after the U.S. and Israel attacked on Feb. 28, causing fuel prices to skyrocket far beyond the region. The interim agreement to end the war was supposed to reopen the channel. Dozens of ships passed through it over the weekend, even though the main route is still mined and closed.<\/p>\n The lead negotiator of the Iranian delegation, Iran\u2019s parliamentary speaker,\u00a0Mohammad Bagher Qalibaf<\/a>, insisted on Monday that the Strait of Hormuz will be managed by Iran, but following international laws.<\/p>\n \u201cHopefully we can activate the strait again, in terms of passage, and bring prosperity back to regional and global economy,\u201d Qalibaf told Iranian state media on the plane on his way back from Switzerland.<\/p>\n Qalibaf and the Foreign Minister, Abbas Araghchi, arrived on Monday night in Oman where they met with the country\u2019s Foreign Minister Badr al Busaidi to discuss the peace efforts and ensure safety navigation in the Strait of Hormuz.<\/p>\n The U.S. Treasury issued a 60-day license on Monday waiving sanctions on Iranian oil as part of the interim agreement. Notably, the license allows Iranian oil to be imported into the U.S., which has not imported significant amounts of Iranian oil since the 1990s.<\/p>\n Tanker traffic continued to pick up through the Strait of Hormuz. According to data and analytics firm Kpler, there were 71 confirmed transits over the weekend, with a peak of 35 crossings on Saturday. Before the war, 100 to 130 vessels passed through the strait each day.<\/p>\n Ships have been avoiding the central route to steer clear of mines, choosing instead to use the smaller northern route, which goes through Iranian waters, and the southern route, which goes through Omani waters.\u00a0In the markets<\/a>, Brent crude oil fell 3.2% to $77.52 per barrel, closer to its roughly $70 price from before the war. Benchmark U.S. crude oil fell 2.6% to $73.86 per barrel.<\/p>\n Vice President JD Vance speaks to members of the media after the U.S. and Iran held high-level talks at the B\u00fcrgenstock Resort in Obbuergen, near Lucerne, in Switzerland, Monday, June 22, 2026. (Nathan Howard\/Pool Photo via AP)\n<\/p>\n Vice President JD Vance speaks to members of the media after the U.S. and Iran held high-level talks at the B\u00fcrgenstock Resort in Obbuergen, near Lucerne, in Switzerland, Monday, June 22, 2026. (Nathan Howard\/Pool Photo via AP)\n<\/p>\n US Vice President JD Vance prior to a quadrilateral meeting between the United States, Iran, Pakistan and Qatar at the Burgenstock luxury hotel complex overlooking Lake Lucerne, Switzerland, Sunday June 21, 2026. (Fabrice Coffrini\/Keystone via AP)\n<\/p>\n From left, US Vice-President JD Vance, Prime Minister of Islamic Republic of Pakistan, Shehbaz Sharif and Premier minister of Qatar Mohammed bin Abdulrahman bin Jassim Al Thani, at the Buergenstock resort resort in Obbuergen, near Lucerne, Switzerland, Sunday, June 21, 2026. (Urs Flueeler, Pool Photo via AP)\n<\/p>\n Show Caption<\/p>\n 1 of 4<\/p>\n Vice President JD Vance speaks to members of the media after the U.S. and Iran held high-level talks at the B\u00fcrgenstock Resort in Obbuergen, near Lucerne, in Switzerland, Monday, June 22, 2026. (Nathan Howard\/Pool Photo via AP)\n<\/p>\n Expand<\/a> Trump did not attend what was dubbed the \u201cLake Lucerne Summit,\u201d but his presence certainly loomed large. The talks were jolted by statements from\u00a0Trump<\/a>, who, from thousands of miles away, fired off comments that offended the Iranians. But the\u00a0mediation effort in Switzerland<\/a>\u00a0started Sunday and stretched into early Monday.<\/p>\n \u201cWe haven\u2019t built the house, but we\u2019ve laid a successful foundation to get to a good place for the American people,\u201d Vance told reporters.<\/p>\n 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\u00a0Jared Kushner<\/a>, Trump\u2019s son-in-law and one of the lead U.S. negotiators, came up with the idea with officials from Qatar.<\/p>\n Vance said Qatar would have approval over the process, and Iranian money that would be accessible as sanctions were lifted would buy American products \u201cfor the benefit of the Iranian people.\u201d<\/p>\n Iran, which has pressed for the unfreezing of billions of dollars in assets, has not commented on the idea. The assets have been frozen over years of sanctions, banking restrictions and legal disputes imposed by the U.S. and international community.<\/p>\n Iranians agree there was progress on their top issue<\/p>\n Shortly after the Iran war began on Feb. 28, Hezbollah and Israel also went to war, with Hezbollah\u00a0firing rockets and drones<\/a>\u00a0at civilian communities in northern Israel and Israel\u00a0seizing large swaths of southern Lebanon<\/a>. Iran has insisted that addressing the fighting in Lebanon is a critical component of any deal to end the wider conflict.<\/p>\n Iran noted \u201cmajor progress\u201d to end the fighting in Lebanon and called that the first real test of the negotiations.<\/p>\n![\"Vice](\"https:\/\/www.timesheraldonline.com\/wp-content\/uploads\/2026\/06\/AP26173434872216.jpg?w=620\")
<\/p>\n![\"Vice](\"https:\/\/www.timesheraldonline.com\/wp-content\/uploads\/2026\/06\/AP26173438841345.jpg?w=620\")
<\/p>\n![\"Vice](\"https:\/\/www.timesheraldonline.com\/wp-content\/uploads\/2026\/06\/Switzerland_Iran_US_Negotiations_2_22__57a3cc.jpg?w=620\")
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\nTrump was not in Switzerland but loomed large over talks<\/p>\n