US-Iran talks end with conflicting accounts as Washington grants 60-day oil sanctions waiver

The first round of US-Iran peace talks in Switzerland has ended with both sides giving sharply different accounts of what was agreed. The talks focused on nuclear issues and wider tensions, including the future of shipping through the Strait of Hormuz. Mediators from Qatar and Pakistan described the session as a positive start, but the immediate outcome remains disputed.

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According to the supplied material, the United States temporarily lifted oil sanctions on Iran with a 60-day waiver after the initial talks. That move was followed by a rebound in oil prices on Tuesday after a sharp fall in the previous session. Brent crude rose to $78.15 a barrel and US West Texas Intermediate climbed to $74.19 a barrel, as investors watched for clearer signs of progress on crude flows through the Strait of Hormuz.

The talks have already drawn political criticism in Washington. Democrats on the US House Foreign Affairs Committee accused the administration of granting sanctions relief before progress had been made on key issues under negotiation. Their criticism centred on Iran's nuclear programme and what they described as the lack of movement on the question of Tehran's regional proxies.

The dispute underlines how quickly the talks have become tied to domestic political debate as well as foreign policy. The Strait of Hormuz remains central to the significance of the talks because it is one of the world's most important oil shipping routes. Any uncertainty over its administration or access can affect energy markets well beyond the region.

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The temporary sanctions waiver also matters because it signals a possible shift in economic pressure on Iran, even though the talks have not yet produced a clear public agreement. The supplied rows indicate that the negotiations were the first round of a broader process and that the two sides have not yet aligned on basic facts about what was committed. One issue mentioned in the material is whether Tehran agreed to admit UN nuclear inspectors, but that point remains contested.

The broader backdrop is a long-running dispute over Iran's nuclear programme, sanctions policy and regional security, all of which continue to shape the talks. What happens next will depend on whether the parties can narrow the gap between their public accounts and turn the initial meeting into a structured negotiation. It is still unclear how long the 60-day sanctions waiver will remain in place and whether it will be linked to further concessions.

Investors, regional governments and lawmakers are likely to watch for any confirmation on inspections, sanctions relief and the status of the Strait of Hormuz.

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