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US, Israel war on Iran
ChinaDiplomacy

A crisis ‘defused’ as blockade lifted, assets to be returned to Iran after Swiss talks

Iranian foreign minister says real test is ending conflict in Lebanon, while US vice-president says assets must be spent on American goods

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US Vice-President J.D. Vance speaks to reporters after the talks at Lake Lucerne in Switzerland on Monday. Photo: Reuters
Fan Chen
Statements from the US and Iran following talks in Switzerland have cooled tensions that nearly derailed the peace process, signalling an intention to continue negotiations even as key issues remained unresolved, according to analysts.

Tehran said the talks had led to the lifting of the blockade and the release of frozen assets for Iran, but that the real test remained deconfliction in Lebanon.

“Tireless Pakistani and Qatari mediation has delivered major progress to end Lebanon War,” Iranian Foreign Minister Seyed Abbas Araghchi said in a social media post on Monday.

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“Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for Iran.”

He added: “1st real test: Lebanon deconfliction cell.”

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Meanwhile, US Vice-President J.D. Vance told reporters on Monday that any unfrozen Iranian assets must be spent on American goods, such as soy and wheat, and they would be prohibited from being used to fund terrorism.

According to the latest statement from the summit, issued jointly on Monday by Qatar and Pakistan, Washington and Islamabad have agreed to create a “deconfliction cell” to monitor the end of military operations in Lebanon.

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