US and Iran begin talks on initial peace deal in Switzerland

Delegations from the United States and Iran have begun formal talks on an initial peace deal at Bürgenstock in Switzerland. According to BBC Middle East, Vice-President JD Vance leads the US side and Foreign Minister Abbas Araghchi heads the Iranian delegation. Qatar and Pakistan are participating in an official mediating role.

The agenda covers three main strands: Iran's nuclear programme, the phased lifting of US sanctions, and maritime-security arrangements for the Strait of Hormuz. Diplomatic sources told the BBC that Tehran is pushing the timetable for releasing $6 billion in frozen assets, while Washington is foregrounding the nuclear verification framework. President Donald Trump's pre-meeting statements kept the tone tough, but the negotiation has stayed on the table.

International observer teams say a '60-day roadmap' could be proposed after the first round. Oil markets eased on the opening of the talks: Brent crude fell about 1.5%. If the process fails, the regional conflict risk could rise again; the talks, which continue Monday, could also affect the parallel ceasefire status on the Israel-Hezbollah front.