U.S. Treasury Secretary Scott Bessent said Iran has committed to free and open transit through the Strait of Hormuz and the return of International Atomic Energy Agency inspectors.
Treasury Secretary Scott Bessent wrote on social media on June 23 that "in line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency inspectors into their country."
The United States and Iran, with Pakistani and Qatari mediators, held the first round of high-level talks for a final peace agreement in Switzerland on Sunday. Vice President JD Vance said Iranian negotiators agreed to invite IAEA inspectors and expects the process to start "at a minimum this week."
President Trump stated on Saturday there will be no tolls in the Strait of Hormuz for 60 days. Bessent added that the Treasury issued a temporary 60-day general license authorizing Iranian oil production and sale. Pakistan and Qatar said in a joint statement that "encouraging progress" has been made.
Currently, 22 South Korea-linked vessels remain trapped inside the strait.
