US-Iran Geneva signing ceremony scrapped as deal takes effect

Vance Briefs on Iran Deal Progress as Geneva Talks Called Off

Vice President JD Vance declared the US-Iran memorandum of understanding “already bearing real fruits for the American people” during a White House briefing on Thursday, citing resumed oil flows through the Strait of Hormuz even as planned talks in Switzerland were postponed on Friday, casting uncertainty over next steps in the fragile accord.

Deal Takes Effect Amid Tangible Results

Vance told reporters that 12.5 million barrels of oil moved through the Strait of Hormuz overnight — the highest volume since the conflict began in February — and that gas prices had dropped below $4 a gallon for the first time since the war started. The 14-point memorandum of understanding, electronically signed by Trump, Vance, and Iranian parliamentary speaker Mohammad Bagher Ghalibaf, took immediate effect on Thursday, waiving US-backed sanctions and allowing Iran to sell oil freely while initiating a 60-day window for nuclear negotiations.pbs

Trump signed a physical copy of the agreement at the Palace of Versailles on Wednesday during a dinner with French President Emmanuel Macron. Under the deal’s terms, the US lifted its naval blockade of Iranian ports, and Iran committed to never develop nuclear weapons and to dilute its stockpile of highly enriched uranium under International Atomic Energy Agency supervision.nbcnews

Switzerland Meeting Scrapped

A formal signing ceremony and the first round of nuclear talks had been scheduled for Friday at the Burgenstock Resort near Lucerne, Switzerland. But the Swiss Foreign Ministry announced early Friday that the meeting would not take place as planned. The White House cited “difficult logistics for negotiations” and said Vance’s team had been ready to depart but chose to delay.aljazeera

“It will be determined in the coming hours whether the Iranian delegation will be present in Geneva tomorrow or not,” Vance said Thursday evening, before the trip was officially scrapped. Deutsche Welle reported that Switzerland said it “remains ready to facilitate these talks” and that preparatory work at Burgenstock was continuing.dw

Khamenei Endorses Direct Talks but Signals Skepticism

Despite the postponement, Iranian Supreme Leader Ayatollah Mojtaba Khamenei endorsed direct face-to-face negotiations with American officials in a statement read on state media Thursday. However, he disclosed that he had held “a different view” on the agreement and only approved it after Iranian leadership assured him the nation’s interests would be protected.channelnewsasia

The deal establishes a $300 billion reconstruction fund for Iran contingent on compliance, requires a permanent cessation of hostilities including in Lebanon, and mandates a binding UN Security Council resolution to endorse the final agreement. Technical negotiations on the nuclear program are expected to resume over the coming days, though no new date has been set.nbcnews