Talks set ‘foundation’ for deal to end war: Vance

Iran notes ‘major progress’ to end fighting in Lebanon, calls it first real test of negotiations

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US vice president JD Vance on Monday said his lengthy talks with senior Iranian officials in Switzerland created a “good foundation for a successful final deal” as they seek a permanent end to the war that the US and Israel began in late February.

“The final deal is the house,” Vance told reporters after initial talks with Iran’s parliamentary speaker, Mohammad Bagher Qalibaf. “We set the foundation. We haven't built the house, but we've laid a successful foundation to get to a good place for the American people.”

Iran noted “major progress” to end the fighting in Lebanon and called that the first real test of the negotiations.

The mediation effort in Switzerland, which started Sunday and stretched into early Monday, had rocky moments. But the talks also led to some agreements, mediators said, as technical talks continue this week.

In other developments, the US Treasury issued a 60-day license waiving sanctions on Iranian oil as part of the interim agreement to end the war. The license authorizes the production, delivery and sale of Iranian oil. It will last through 21 August.

US treasury secretary Scott Bessent cited the “ongoing productive talks in Switzerland” in a post on X announcing the license.

Trump did not attend what was dubbed the “Lake Lucerne Summit,” but his presence certainly loomed large.