Published on 6/23/2026
The Iranian Foreign Ministry announced the conclusion of technical talks with the United States of America within the framework of the negotiations taking place in Switzerland with Qatari-Pakistani mediation to end the war, while statements from Washington and Tehran differed regarding the method of spending Iran’s frozen funds after their release.
The official Iranian News Agency (IRNA) reported via the Telegram application that “Kazem Gharibabadi, Deputy Foreign Minister and head of the Iranian technical negotiating team, announced the conclusion of the talks between the four countries and the reaching of an agreement on the framework of future negotiations.”
The agency added, “It was also decided to form four working groups related to ending sanctions, nuclear affairs, reconstruction and economic development, and monitoring and implementation.”
Bezeshkian sets the criteria for progress
Meanwhile, Iranian President Masoud Pezeshkian confirmed – before heading to Pakistan on Tuesday at the invitation of Pakistani Prime Minister Shahbaz Sharif – that “the effectiveness of the talks depends on full commitment to the agreed-upon pledges and their strict implementation.”
The Iranian President said, “Progress in the course of the talks will be measured by practical commitment to accepted responsibilities, and not by statements that deviate from the agreed upon text and do not help move the negotiations forward.”
US Vice President J.D. Vance said that talks with Iranian officials in Switzerland laid a “good foundation” for a final peace agreement, but Iran denied discussing its nuclear program.
Vance indicated that Tehran agreed to allow the entry of nuclear inspectors, to establish mechanisms to manage its frozen assets abroad, and to implement a ceasefire. He added to reporters after his participation in the talks, “We have laid a very solid foundation for a successful final agreement.”
But Iranian Foreign Ministry spokesman Ismail Baghaei told the Islamic Republic News Agency that Tehran has not yet discussed nuclear issues and has not made new commitments.
The mediators, Qatar and Pakistan, announced that the United States and Iran had agreed on a road map to reach a final agreement within 60 days during the talks held in the Swiss mountain resort of Bürgenstock, which Qatar owns. The talks came after Washington and Tehran signed a temporary agreement last week.
They also agreed on a mechanism to end the fighting between Washington’s ally Israel and the Iran-backed Hezbollah group in Lebanon, and open a line of communication to help ensure safe passage for commercial ships through the strait, a vital global supply route for oil and liquefied natural gas.
Oil exemption
In the first of several major steps expected under the agreement to give Iran economic benefits, the US Treasury Department announced a suspension of sanctions until next August 21, allowing Iran to sell oil and related products and receive payments for them.
The Ministry explained that the general license regarding Iran allows the production, delivery and sale of crude oil and petrochemical and petroleum products of Iranian origin until August 21, stressing that the license does not permit transactions that include North Korea and Cuba. And Ukraine.
US Treasury Secretary Scott Besent said that his country issued a temporary general license for a period of 60 days authorizing the production, supply and sale of Iranian oil, as part of implementing the terms of the memorandum of understanding signed last week between Washington and Tehran to end the war between the two sides.
Besant added that Tehran has committed to freedom of passage in the Strait of Hormuz, and to allow “atomic energy” inspectors to enter its territory.
The fate of the released funds
In a related context, US President Donald Trump announced that the frozen Iranian funds that will be released will be used exclusively to purchase food supplies from American farmers, while Tasnim Agency – citing the Governor of the Central Bank of Iran, Abdel Nasser Hemmati – reported that there is no commitment under the signed memorandums to purchase agricultural materials from the United States.
Trump stressed that “Iran is not supposed to use oil revenues to rebuild its army, but rather use the money to buy food for its people,” threatening that “if Iran misbehaves, it will do what it must.”
Yesterday, Monday, the US Vice President said that the release of frozen Iranian assets “will enrich the Americans and feed the Iranians,” noting that it is “a very good and wonderful deal for the Iranian and American people,” and described it as “a classic Trump-style deal.”
On the other hand, the Governor of the Central Bank of Iran, Abdel Nasser Hemmati, said – in statements reported by Tasnim News Agency – that Tehran is not obligated to buy agricultural products from America, and that the remaining frozen funds will not necessarily be used only to buy basic goods, and Iran will be able to buy other goods that are not subject to sanctions.
But he stressed that “if the prices and quality of American agricultural products are better, there is nothing preventing them from being purchased,” according to what was reported by the Iranian Tasnim Agency.
Hemmati added that the use of the first batch of $6 billion is based on the agreement signed with Washington in 2023, which includes the purchase of basic goods and medicines.
The Iranian Central Bank Governor explained that the rest of the frozen funds (i.e. the second $6 billion and beyond) “will not necessarily be allocated to basic goods, and we can buy other goods that are not subject to sanctions.”
In the same context, Iranian Parliament Speaker Mohammad Bagher Qalibaf said that an agreement had been reached in Switzerland to release about $12 billion of frozen Iranian funds. The total frozen Iranian funds exceed about $100 billion, according to some estimates.
Qalibaf added that sanctions on Iran’s sale of oil and petrochemicals have been temporarily lifted until a final agreement is reached between Washington and Tehran, in reference to the US Treasury Department’s announcement that it had issued a temporary general license allowing the production, delivery, and sale of crude oil and petrochemical and petroleum products of Iranian origin until next August 21.
