US Eases Iran Sanctions After Breakthrough Nuclear Talks
News Desk
Islamabad: A major breakthrough has emerged from the US-Iran peace negotiations hosted by Pakistan in the Swiss resort town of Bürgenstock, with both sides reaching a series of landmark agreements aimed at reducing tensions and reviving diplomatic engagement.
As part of the agreement, documents have been finalized for the release of $12 billion in frozen Iranian assets. In return, Iran has agreed to reduce the level of uranium enrichment within its own territory rather than transferring its enriched uranium abroad—a key compromise that paved the way for the United States to temporarily ease sanctions.
The US has suspended several sanctions on Iran for 60 days, opening the door for limited economic activity while negotiations continue.
Pakistan’s Mediation
Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar described the agreement as a significant step forward during an interview with Arab media.
He said the United States had initially demanded that Iran export all of its enriched uranium, but both sides eventually agreed on a different approach under which Iran would lower the enrichment level domestically while keeping the material inside the country.
According to Dar, three specialized working groups have now been established to handle separate issues, including Iran’s nuclear program, the release of frozen Iranian assets, and the security situation in Lebanon.
He also announced that for the next 60 days, commercial vessels from around the world will be allowed to pass through the Strait of Hormuz by paying only standard service charges, with no additional taxes or transit fees.
Dar said Saudi Arabia, Qatar, Egypt and the United Arab Emirates had fully supported Pakistan’s mediation efforts, adding that US President Donald Trump had personally overseen the negotiations.
“Although the next phase of talks may be challenging, there is every reason to believe a final agreement is achievable because this deal benefits all sides,” Dar said.
Trump Welcomes Progress
Speaking to reporters in Washington, US President Donald Trump praised the outcome of the negotiations, saying the Strait of Hormuz was now fully open for international shipping.
“The shipping route is completely open, and Iran is doing a very good job in this regard,” Trump said.
He added that lower energy prices around the world reflected the improving situation and confirmed that discussions with Tehran would continue.
Trump also repeated his earlier claims that Iran’s military capabilities had been significantly weakened, saying its naval and air forces, radar systems, missiles and drones had suffered extensive damage.
“Iran will now allow greater transparency regarding its nuclear program,” Trump said. “If Iran fails to honour the agreement, we will respond accordingly.”
Frozen Assets and Oil Trade
One of the most significant outcomes of the talks is the planned restoration of approximately $12 billion in frozen Iranian assets, with the necessary documentation now completed.
Iranian Parliament Speaker Baqir Qalibaf confirmed the agreement, saying both countries had also agreed to establish a joint coordination mechanism to ensure safe navigation through the Strait of Hormuz and prevent future maritime incidents.
He added that participating countries had also expressed support for protecting Lebanon’s sovereignty and security.
Meanwhile, an Iranian delegation has travelled to Oman for further consultations, while US Secretary of State Marco Rubio is scheduled to visit the United Arab Emirates, Kuwait and Bahrain to brief regional allies on the progress of the negotiations.
Temporary Sanctions Relief
In another major move, the United States has issued a temporary licence allowing Iran to produce, export and sell petroleum products on international markets.
US Treasury Secretary Scott Bessent said the licence would remain in effect until August 21, permitting Iran to sell crude oil and refined petroleum products while also facilitating related banking, insurance and shipping services.
“We remain committed to promoting global security and economic stability,” Bessent said. “Iran has pledged to keep the Strait of Hormuz open without imposing additional fees and to cooperate fully with International Atomic Energy Agency (IAEA) inspectors.”
Iran Confirms Agreement
Iranian Foreign Minister Abbas Araqchi confirmed on social media that restrictions on Iran’s oil exports had been temporarily suspended, the maritime blockade had been eased, and a portion of the country’s frozen assets would be released.
US Vice President JD Vance also welcomed the progress, saying the negotiations had achieved all four of Washington’s primary objectives.
“The IAEA inspectors will now return to Iran to monitor compliance, bringing us closer to a permanent and comprehensive peace agreement,” Vance said.
While many of the measures remain temporary and dependent on future negotiations, the Bürgenstock talks represent one of the most significant diplomatic breakthroughs between Washington and Tehran in years, offering cautious optimism for broader regional stability.
