Vance Says Iran Talks a ‘Good Foundation’ for Final Peace Deal

Vice President Vance says a lengthy first round of peace talks with Iran are laying a “good foundation” for a final deal to end the war.Mr. Vance, on Monday, spoke about his meeting with Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, in Switzerland. Mr. Vance says that Iran agreed to allow international inspectors back into the country to monitor its nuclear program. Iran has not publicly confirmed it will allow International Atomic Energy Agency inspectors back in the country. The Iranian Foreign Ministry spokesman, Esmaeil Baghaei, later said that Tehran didn’t negotiate on its nuclear program during the talks and made no new commitments.A news outlet linked to Iran’s Islamic Revolutionary Guard Corps, Tasnim news agency, warned that the inspectors should not be allowed back in the country because it would jeopardize Iran’s “nuclear ambiguity” that it claims is a key asset against Washington.Mr. Vance downplayed an incident that took place during the talks when Iranian negotiators walked out claiming they were insulted by an “offensive remark” by President Trump on his Truth Social account. He said it was nothing more than a “little bit of whining” and threats to leave. “What we told the Iranians yesterday is when you guys engage in what us millennials might call ‘trash talk,’ you can’t expect the president of the United States not to respond and not to correct the record,” Mr. Vance said.The Treasury Department announced Monday it was waiving sanctions on Iranian oil exports for 60 days. Treasury Secretary Scott Bessent said the waiver comes as “ongoing productive talks” take place and Iran committed to free and open transit in the Strait of Hormuz. The waiver remains in effect through August 21, according to the department.Iran has faced crushing American-imposed sanctions that have battered its economy. The temporary relief will provide Iran with a cash influx and help boost the world oil supply. Oil and gas prices have spiked across the globe due to the war and a closure of the strait. The price for a barrel of Brent crude fell nearly 3 percent on Monday to around $78 a barrel. The price was around $70 before the war.Iran said it closed the strait on Saturday in response to Israeli strikes on Lebanon. Mr. Vance disputed the closure and said oil tankers were moving freely through the important waterway.A fragile cease-fire appeared to hold on Monday between Israel and Hezbollah. Iran has emphasized a halt in Israeli attacks as a key element of the interim peace deal. Israel has said it has a right to defend itself and will continue to carry out retaliatory strikes for violations by Hezbollah. Prime Minister Benjamin Netanyahu has repeatedly said Israeli troops will remain inside Lebanon to create a security zone.Secretary of State Marco Rubio will travel to the Middle East on Tuesday to discuss the progress on talks with Iran and efforts to secure full and free safe transit through the Strait of Hormuz. Mr. Rubio will meet with leaders in the United Arab Emirates, Kuwait, and Bahrain, Department of State spokesman Thomas Pigott said in a statement. Mr. Rubio also plans to meet with the Gulf Cooperation Council to discuss shared priorities across the region.

Vance Says Iran Talks a ‘Good Foundation’ for Final Peace Deal

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