US, Iran set for new talks; Trump threatens US tolls in Hormuz if deal not reached in 60 days

Key Points:

• Negotiations between the US and Iran to implement their agreement to end the war began in Switzerland, with Iranian and US delegations arriving ahead of talks focused on nuclear inspections and a Lebanon ceasefire.
• US Vice President JD Vance, leading the US team, expressed cautious optimism about progress on nuclear and Lebanon issues, noting a slowdown in fighting and ongoing management efforts by Secretary of State Marco Rubio.
• Iran claimed it had closed the Strait of Hormuz in response to Israeli airstrikes on Hezbollah, but the US military denied this, affirming traffic was flowing and that Iran does not control the waterway; President Trump threatened US-imposed tolls if no deal is reached in 60 days.
• The US aims to secure Iran’s agreement to allow International Atomic Energy Agency inspections at nuclear sites in exchange for unfreezing billions of dollars in Iranian assets for humanitarian use, with IAEA Director Rafael Grossi expected to participate in talks.
• Despite the memorandum of understanding, Israeli officials oppose the deal, as it does not address Iran’s nuclear and missile programs or regime change, and Israel was not involved in the negotiations; a temporary ceasefire in Lebanon was reportedly enforced at US insistence.