US waives Iran sanctions, Trump says he will ‘do what I have to’ if Tehran misbehaves
Humeyra Pamuk, Dave Graham and Nandita Bose
BUERGENSTOCK, Switzerland/WASHINGTON, June 23 (Reuters) – The United States waived sanctions against Iran for 60 days starting Monday, following initial talks under a nascent peace deal. US President Donald Trump said he would “do what I have to do” if Iran does not stick to its side of the deal.
US Vice President J.D. Vance said talks with Iranian officials in Switzerland provided a good basis for an eventual peace deal, but denied starting talks on the Iranian nuclear program.
Mediators Pakistan and Qatar said the two sides, trying to improve the interim agreement they signed last week, agreed on a road map for a permanent agreement within 60 days during talks held in the Qatar-owned Swiss mountain resort of Buergenstock.
They also agreed on a mechanism to end the conflict in Lebanon between US ally Israel and pro-Iran Hezbollah, and opened a line of communication to help ensure the safe passage of commercial ships through the Strait of Hormuz to prevent conflict in the strategic waterway.
In the first of several steps envisaged under the agreement to provide economic aid to Iran, the US Treasury announced that it is waiving sanctions until August 21, allowing Tehran to sell and receive payments for oil and related products.
Officials reported a sustained lull in fighting in Lebanon under the agreement aimed at ending hostilities in the region, although Israel said it would maintain a security zone in southern Lebanon and continue to take action to “neutralize” threats to Israeli soldiers and citizens.
Tanker traffic in Hormuz began increasing on Monday as Oman’s foreign minister confirmed his country’s commitment to international law and free safe passage during negotiations with Iran over the management of the vital waterway.
US-Israeli attacks on Iran and Israeli attacks on Lebanon have killed thousands of people and displaced millions. The Iran war also shook world markets and caused global oil prices to rise. Crude oil prices continued losses on Tuesday after falling 3% on Monday.
VANCE PROVIDES AN OPTIMISTIC ASSESSMENT
Israel was not a party to the peace agreement, but agreed to a new ceasefire in Lebanon on Friday. Although intense clashes continued for another day, Lebanese officials said the fighting had decreased since Saturday night.
Israel and Lebanon were to begin a new round of talks in Washington on Tuesday; Beirut was determined to continue direct negotiations, although it appeared to be overshadowed by Iran’s decision to make Lebanon part of its talks with the United States.
Vance, who has struck an optimistic tone since the memorandum of understanding was signed, said Tehran had agreed to allow nuclear inspectors into the country, establish mechanisms to handle assets frozen abroad and manage ceasefires.
“We have laid a very good basis for a successful final agreement,” he told reporters after attending the talks.
However, Iranian Foreign Ministry spokesman Esmaeil Baghaei told the official IRNA news agency that Iran has not yet discussed nuclear issues or made new commitments.
In a post on Truth Social on Monday, Trump said Iran would agree to arms inspections to ensure “nuclear integrity.”
“If Iran doesn’t comply or doesn’t comply with the agreement, I will do what I have to do,” Trump later told reporters.
Iran has had limited inspections by the International Atomic Energy Agency since the United States and Israel launched their first airstrikes last year, and suspended them entirely when war broke out in February. He says his nuclear program is peaceful.
Iranian Foreign Minister Abbas Araqchi said on social media that Tehran provided exemptions for oil and petrochemical exports, some of its assets frozen abroad were released, and a reconstruction and development plan for Iran was launched.
Vance said White House envoy Jared Kushner, Trump’s son-in-law, developed a process in which the United States and Qatar would have control over Iranian funds if they were not frozen and the money could be spent on U.S. corn, soybeans and wheat.
“So the money we raise will go to our farmers,” Trump told reporters.
However, Central Bank of Iran Governor Abdolnaser Hemmati said there was no such obligation and at least some of the remaining frozen funds could be used to purchase other non-sanctioned goods, Iran’s Tasnim news agency reported.
Technical talks were planned to continue for the rest of this week.
(Reporting by Humeyra Pamuk and Dave Graham in Buergenstock, Laila Bassam in Beirut and Reuters bureaus; Writing by Lincoln Feast; Editing by Raju Gopalakrishnan)
