The Latest: Vance and Iranian negotiators are in Switzerland to work on details of deal
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- VP JD Vance is leading the US delegation — joined by Jared Kushner and Steve Witkoff — in overnight talks at a Swiss resort with Iranian negotiators led by Parliament Speaker Mohammad Bagher Qalibaf and FM Abbas Araghchi, with Pakistan and Qatar serving as mediators.
- FM Abbas Araghchi posted on X that "Pakistani and Qatari mediation has delivered major progress to end the Lebanon War," though the US has not commented on the first round's outcome, and negotiators expected to work through the night.
- Tehran closed the Strait of Hormuz again on the eve of talks over Israel's ongoing Lebanon campaign; Trump threatened to impose American tolls on the strait if a final deal isn't reached in 60 days, and US crude oil prices rose nearly 3% to $78.70 per barrel while Brent crude gained about 1% to $81.70 per barrel.
- Iran's delegation told state media that talks centered on Lebanon but also covered frozen Iranian assets, oil exports, and lifting oil-related sanctions, with National Iranian Oil Co. CEO Hamid Bovard participating in the negotiations.
- Trump told Fox News the US could "hit Iran very hard again" and warned Iranian President Masoud Pezeshkian to "watch his mouth"; Iran's state news agency IRNA said the talks entered a "difficult phase" after what it called an "insulting" Trump statement.
- Netanyahu said Israel will remain in the southern Lebanon security buffer zone "for as long as necessary" and reiterated his vow to prevent Iran from obtaining nuclear weapons, while Israel's military lifted movement restrictions near the Lebanese border starting Monday.
- Hezbollah leader Naim Kassem rejected any ceasefire deal granting Israel "freedom of action" inside Lebanon or that fails to produce a complete Israeli withdrawal from southern Lebanon, warning the group will not accept violations.
Why it matters: Iran is conditioning the entire negotiation on stopping the Lebanon campaign, while Trump is simultaneously threatening renewed military strikes and a 60-day Strait of Hormuz toll deadline — and oil markets already moved, with US crude jumping nearly 3%. Hezbollah's flat rejection of any deal that keeps Israeli forces in southern Lebanon gives Tehran a hard floor it can't easily cross without losing its proxy.
