The United States and Iran are set to begin negotiations on a final settlement to their ongoing conflict on Friday in Switzerland, according to officials, amid reports that the Strait of Hormuz will reopen, contributing to a sharp decline in global oil prices.
The talks are expected to begin immediately following a signing ceremony and continue over a 60-day period. Discussions will focus on the future of Iran’s nuclear programme and the potential lifting of international economic sanctions.
Despite growing optimism that the conflict—triggered by the February 28 U.S.-Israeli strikes on Tehran—may be moving toward resolution, tensions were renewed following fresh Israeli airstrikes in southern Lebanon.
Iran’s central military command, Khatam al-Anbiya, warned Israel to “await a harsh response” following the strikes. Lebanese state media reported that the attacks targeted two vehicles in the town of Mayfadoun and another in Shukeen, near Nabatieh in southern Lebanon, killing four people.
The signing ceremony is scheduled to take place at Switzerland’s Burgenstock resort, located above Lake Lucerne, according to the Swiss foreign ministry.
A senior U.S. official, speaking anonymously, said the framework agreement has already been signed electronically by President Donald Trump, Vice President JD Vance, Iranian Deputy Foreign Minister Majid Takht-Ravanchi, and chief negotiator Mohammad Bagher Ghalibaf.
Ghalibaf is expected to attend the ceremony, while the United States will be represented by Vice President JD Vance, who said President Trump may also participate.
The developments follow Trump’s statement that an Iranian blockade of the strategic Strait of Hormuz oil and gas route would be fully lifted by Friday, a move seen as a significant boost to global energy markets.
