World

US-Iran talks yield 60-day roadmap as Strait Of Hormuz reopens, easing fears of global energy shock

Both sides commit to technical talks aimed at securing the reopening of the Strait of Hormuz, de-escalating regional conflict and preventing further disruption to global energy markets

Updated 1 month ago · Published on 22 Jun 2026 1:06PM

US-Iran talks yield 60-day roadmap as Strait Of Hormuz reopens, easing fears of global energy shock
The United States and Iran agree to pursue a 60-day roadmap towards a comprehensive agreement after marathon negotiations in Switzerland (Photo from Reuters) - June 22, 2026

THE United States and Iran have concluded the first round of high-level negotiations with a breakthrough agreement to pursue a 60-day roadmap towards a comprehensive settlement, marking the most significant diplomatic progress since months of escalating conflict threatened global energy supplies and regional stability.

Following overnight negotiations that stretched into Monday, mediators Qatar and Pakistan announced that both sides had agreed to continue technical discussions throughout the week at the Swiss mountain resort of Buergenstock, where negotiators are seeking to translate a fragile ceasefire into a lasting political agreement.

The joint statement said the roadmap includes measures to reopen the Strait of Hormuz, establish secure maritime communications for commercial shipping and develop a mechanism to end hostilities in Lebanon, where cross-border violence has continued despite ceasefire efforts, according to Rueters.

The talks brought together U.S. Vice President JD Vance and senior Iranian officials under the framework of a memorandum of understanding reached last week, extending a fragile ceasefire for at least another 60 days.

Iranian Foreign Minister Abbas Araqchi said Tehran had secured important concessions during the negotiations, including waivers allowing continued oil and petrochemical exports, the release of part of Iran's frozen overseas assets and the launch of a reconstruction and economic development programme.

The negotiations unfolded against a backdrop of renewed tensions after Iran announced it had again closed the Strait of Hormuz, while U.S. President Donald Trump warned Tehran against attempting to obstruct one of the world's most strategically important shipping lanes.

According to Fox News, Trump said he had warned Iranian negotiators that "you won't have a country" if Iran attempted to close the Strait again. He also repeated his earlier threat that the United States could assume control of the waterway and potentially impose its own transit charges.

Despite reports of friction during the talks, both Washington and Tehran indicated that negotiations continued throughout Sunday night.

Iran's semi-official Tasnim news agency reported that Iranian negotiators temporarily refused to re-enter the main negotiating room after Trump's public remarks, insisting that progress on nuclear discussions depended on Washington first implementing other elements of the memorandum, including sanctions waivers and the release of frozen Iranian assets.

However, a U.S. diplomat involved in the negotiations dismissed suggestions that the talks had stalled.

"The Iranians never left and are still here meeting and negotiating deep into the night," the diplomat told Reuters. "We've talked about the Strait, Lebanon, nuclear issues, and details of implementing the MOU, among other topics."

Another U.S. official said senior-level negotiations were expected to conclude on Monday while technical teams remained in Switzerland to continue detailed discussions on implementation.

Washington also said discussions focused on reducing the risk of further maritime disruption in the Gulf.

A U.S. diplomat said the talks included "clarifying some of the confusing messaging from Iran on the Strait and building deconfliction mechanisms to ensure the Strait will remain fully open."

Speaking in Switzerland, Vance acknowledged that regional tensions remained volatile but expressed confidence that diplomacy was beginning to produce results.

"These things are always a little bit messy," he said.

Back in Washington, however, Trump maintained pressure on Tehran, warning that military action could resume unless Iran restrained its regional allies.

"Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble," Trump wrote on social media, apparently referring to Hezbollah. "If they don't, we'll hit Iran very hard again, just like we did last week, only harder!!!"

At the same time, Vance stressed that the administration remained committed to pursuing a broader diplomatic reset with Tehran.

"The U.S. president had asked us to turn over a new leaf to transform our relationship with the people of Iran," he told reporters.

Although U.S. officials disputed Iran's assertion that the Strait of Hormuz had been completely closed, commercial shipping activity slowed sharply. Data from maritime analytics firm Kpler showed only five vessels transited the Strait on Sunday compared with 26 the previous day, suggesting significant disruption to one of the world's busiest energy corridors.

The uncertainty initially pushed Brent crude prices above US$81 a barrel before markets stabilised as news emerged of progress in the negotiations and the prospect of the Strait reopening.

Meanwhile, there were tentative signs of easing violence in Lebanon, where Sunday passed without reports of major hostilities. Traffic returned to parts of southern Lebanon as displaced residents began making their way home, although more than one million people remain displaced following months of fighting between Israel and Hezbollah. - June 22, 2026

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