What the US and Iran Agreed and Disagreed on During the First Day of Talks
Sarah Shamim
The first day of direct US-Iran negotiations in Switzerland produced some preliminary accords, including a 60-day suspension of oil sanctions and a communication channel for the Strait of Hormuz. However, key disagreements persist over frozen assets, nuclear inspections, and Iran's enriched uranium stockpile.
The first day of direct talks between the United States and Iran in Switzerland showed some positive signals but also exposed major differences. Under a preliminary agreement, the US agreed to lift sanctions on Iranian oil for 60 days. President Donald Trump said he would “do what needs to be done” if Iran fails to comply.
The parties also set up a “communication line” concerning the Strait of Hormuz to “avoid incidents and misunderstandings and ensure safe passage for commercial vessels.” Iran had closed the strait, which carries 20% of global oil and gas in peacetime, after US-Israeli attacks in late February sent oil prices soaring.
A joint statement by mediators Qatar and Pakistan said chief negotiators would report regularly to a High Committee and lead working groups on nuclear issues, sanctions, monitoring, and dispute resolution to ensure effective implementation of a memorandum of understanding signed last week.
Beyond sanctions relief, however, the two sides appeared not to have agreed on the substance. Iran claimed the US agreed to release $12 billion in frozen assets, but Washington has not confirmed this. While Vice President JD Vance said Iran allowed international nuclear inspectors back, Tehran denied this the following day.
Other major sticking points, such as Iran’s enriched uranium stockpile and details of the sanctions relief package, remain unaddressed.
On frozen assets: Iran’s top negotiator, Mohammad Bagher Ghalibaf, said an agreement was reached to release $12 billion in frozen Iranian assets. However, the US side said the money could only be used to buy American agricultural products. President Trump stressed that corn and soybeans would be bought from US farmers. Iran’s Foreign Ministry spokesman rejected the notion that Iran was forced to buy American food, saying “the assets will be released and Iran has full rights to use them to purchase any necessary goods.”
On sanctions: The US lifted oil sanctions on Iran for 60 days, freeing about 67 million barrels of oil stored on tankers in the Gulf. Iran is one of the world’s most heavily sanctioned nations. Iranian Foreign Minister Abbas Araghchi said sanctions on oil and petrochemical exports were removed, the maritime blockade ended, some assets were released, and a major reconstruction plan for Iran was launched.
On nuclear inspections: Accounts diverge. Vice President Vance said Iran agreed to invite IAEA inspectors back, but Iran denied this, saying no specific timeline was set. President Trump later claimed Iran has “fully and completely agreed to the highest-level nuclear inspections in the far (infinite!!!) future.”
On other nuclear talks: Iran now holds 440 kg of uranium enriched to 60%, below weapons-grade (90%) but quickly upgradeable. The US wants Iran to hand over this stockpile, but Iran firmly refuses, though it has previously indicated willingness to transfer it to a third country. Last week’s deal suggests mixing down the uranium inside Iran remains an option.
