Key facts
- President Trump has given Iran a 60-day deadline to reach a deal with Washington.
- Failure to reach an agreement may result in unspecified consequences, including potential U.S. tolls on the Strait of Hormuz.
- The interim deal includes waivers on U.S. oil sanctions concerning Iranian crude oil, petroleum products, and derivatives.
- Iran announced the closure of the Strait of Hormuz, citing Israeli attacks and U.S. "breach of commitments."
- The U.S. disputed Iran's claim, stating traffic continues to flow through the Strait of Hormuz.
- Technical-level talks between the U.S. and Iran are scheduled to begin, with mediators from Pakistan and Qatar participating.
President Trump has issued a 60-day ultimatum to Iran, demanding a deal or facing unspecified consequences, including the potential imposition of U.S. tolls on the Strait of Hormuz. This ultimatum comes as Iran announced it had closed the crucial waterway, citing Israeli attacks in Lebanon and a U.S. "breach of commitments" regarding an interim agreement.
The U.S. disputed Iran's claim of control over the Strait of Hormuz, with U.S. Central Command stating that traffic continues to flow unimpeded. The announcements signal a contentious start to technical-level negotiations between the U.S. and Iran, with mediators from Pakistan and Qatar participating.
As part of the interim agreement, Iran's assets are to be unfrozen, and waivers on U.S. oil sanctions are included. However, critics argue these sanctions relief measures provide an economic boost to Iran and diminish U.S. leverage. The agreement also calls for toll-free travel through the Strait of Hormuz for 60 days, a provision Trump threatened to alter if a final deal is not reached.
The situation in Lebanon remains tense, with Hezbollah informing Iran that it will not reopen the strait until Israel publicly commits to a comprehensive ceasefire. An Israeli military official indicated that the military had received directives to cease fire and was operating defensively, though reports of continued strikes and casualties emerged.
Negotiators, including Iranian parliamentary Speaker Mohammad Bagher Qalibaf and Foreign Minister Abbas Araghchi, were en route to Switzerland for talks. U.S. negotiators Jared Kushner and Steve Witkoff are already in Switzerland working on technical details.