Vance: Strait of Hormuz 'open,' Iran to allow IAEA inspectors

U.S. Vice President JD Vance announced significant progress in negotiations with Iran, stating that the Strait of Hormuz is now open and that Iran has agreed to permit International Atomic Energy Agency (IAEA) inspectors into the country. Speaking from Bürgenstock, Switzerland, Vance described the developments as a "very good progress" achieved on Sunday.

"It is open. We have seen oil and gas prices fall, millions and millions of barrels of crude oil and natural gas circulating through the Strait of Hormuz that were not doing so before," Vance told reporters, citing the economic impact of the open waterway. He asserted that a "very good basis" has been established for a final agreement.

“

It is open. We have seen oil and gas prices fall, millions and millions of barrels of crude oil and natural gas circulating through the Strait of Hormuz that were not doing so before.

This development follows a joint statement from the foreign ministries of Pakistan and Qatar, who are mediating the talks. They announced an agreement to establish a committee tasked with creating a roadmap for a final deal within 60 days. Vance highlighted that a key objective of the negotiations is to create "mechanisms" to ensure de-escalation, such as maintaining a ceasefire, to manage potential future conflicts between Israel and Hezbollah.

“

The Iranians have agreed to invite the IAEA inspectors back to their country. This is a major milestone for the American people and the first step towards permanent denuclearization, that is, the definitive end of the nuclear weapons program in Iran.

Vance further stated that Iran's agreement to allow IAEA inspectors back into the country is a "major milestone" and a "first step towards permanent denuclearization." This comes after Iran had previously blocked inspectors following Israeli and U.S. attacks on its nuclear facilities in June 2025 and again in February 2026. The inspectors are expected to verify compliance with the preliminary agreement, which Vance characterized as "great advances" that "everyone" should "celebrate."

Iranian delegations departed Switzerland for Tehran after intensive negotiations, while technical teams will continue discussions on the implementation of the memorandum of understanding throughout the week. The agreement aims to address issues including the status of nuclear facilities and the whereabouts of approximately 440 kilograms of highly enriched uranium.

“

great advances that everyone should celebrate.