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Iran has firmly stated its intention to maintain control over the Strait of Hormuz, a vital waterway for global oil transport, as high-level talks with Washington concluded in Switzerland. Vice President JD Vance described the negotiations as a "very good foundation" for a final peace deal, noting the US suspension of sanctions on Iranian oil. However, critical issues, including Iran's nuclear program and the unimpeded passage through Hormuz, remain unresolved despite an initial agreement. Technical talks have concluded, with working groups to be established to address nuclear matters and sanctions, according to Iranian state media. US President Donald Trump's demand for an unconditional reopening of Hormuz has been met with strong resistance from Iran. Mohammad Bagher Ghalibaf, Iran's chief negotiator, stated that the Strait of Hormuz "will never return to its pre-war conditions and will be administered by the Islamic Republic of Iran, in accordance with international law." The strait had briefly reopened following an agreement between Washington and Tehran, but Iran announced its closure again on Saturday in response to Israeli attacks in Lebanon. Mediators from Qatar and Pakistan have facilitated an agreement between Tehran and Washington to establish a communication line aimed at preventing incidents and ensuring safe passage for commercial vessels. As part of this deal, Washington has agreed to release $12 billion in frozen Iranian funds and temporarily suspend oil sanctions. The US Treasury specified that the sanctions suspension allows Iran to produce, sell, and deliver crude oil and related products through August 21. Vance indicated that the unfreezing of Iranian assets, if it occurs, would be used for purchasing US goods like soybeans, not for funding terrorism. Iran has faced asset freezes and broad sanctions since the 1979 revolution. The recent negotiations in Switzerland have raised hopes for a lasting settlement and contributed to a decrease in oil prices. The talks, with Pakistani and Qatari mediation, aim to produce a final document within a renewable 60-day period. Iranian President Masoud Pezeshkian is scheduled to travel to Pakistan following the Switzerland talks, signaling continued diplomatic efforts.

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The Strait of Hormuz will never return to its pre-war conditions and will be administered by the Islamic Republic of Iran, in accordance with international law