Iran says $12 billion in frozen assets were agreed in Switzerland talks with US as sanctions relief is reported

Iran's parliament speaker, Mohammad Bagher Ghalibaf, has said arrangements were finalised for the release of $12 billion in frozen Iranian assets during talks with US officials in Switzerland. The claim has not been confirmed by Washington, which has so far not endorsed the reported figure or the existence of a final agreement. Ghalibaf made the remarks after returning from the Burgenstock resort near Lake Lucerne, where the discussions were held.

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The latest reporting adds that the United States temporarily eased oil sanctions for 60 days after Iran agreed to allow international nuclear inspectors to return. Iranian negotiators also said a deal had been reached to release the frozen funds, while the broader memorandum of understanding is said to include a 60-day negotiation period. The supplied material indicates that the talks covered sanctions relief, nuclear inspections and the handling of frozen Iranian assets, but the exact legal mechanism has not been made public.

The reported asset issue is significant because frozen Iranian funds have long been tied to sanctions policy and wider negotiations over Iran's regional and economic position. The new claims suggest the Swiss talks are part of a broader package rather than a single financial arrangement. They also point to a possible link between nuclear monitoring, oil sanctions and access to overseas funds, all of which remain central to the dispute between Tehran and Washington.

The talks also appear to have touched on maritime security in the Strait of Hormuz, one of the world's most sensitive shipping routes. Ghalibaf said a centre and telephone hotline would be established to reduce the risk of incidents and miscommunication during a 30-day period, although the supplied material does not set out the full terms of that mechanism. The strait has been central to earlier tensions in the same developing story, with the negotiations linked to keeping commercial traffic moving and limiting escalation.

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The wider context is that the Swiss discussions were not limited to one issue, but formed part of a broader package involving sanctions relief, shipping security and regional de-escalation. The supplied rows also say US Vice President JD Vance acknowledged the frozen assets issue but stopped short of confirming the $12 billion figure, describing the matter as complex and saying no final agreement had been reached. That leaves a gap between Tehran's account and Washington's position.

What remains unclear is whether the reported arrangements will be formally announced, how much money will actually be released, and what conditions may apply. It is also not clear how the Hormuz communication mechanism will operate in practice or whether further talks will produce a broader settlement. The next developments to watch are any direct statement from Washington, more detail from Iranian officials, and whether the reported memoranda lead to an actual transfer of funds.

Iran's parliament speaker, Mohammad Bagher Ghalibaf, has said arrangements were finalised for the release of $12 billion in frozen Iranian assets during talks with US officials in Switzerland. The claim has not been confirmed by Washington, which has so far not endorsed the reported figure or the existence of a final agreement. Ghalibaf made the remarks after returning from the Burgenstock resort near Lake Lucerne, where the discussions were held.

According to the supplied material, the Swiss session also covered a communication mechanism for the Strait of Hormuz and a framework for further talks. Ghalibaf described the meeting as productive and said Iran had helped prevent further bloodshed in Lebanon by taking part. He also said the sides made progress on several fronts, while Iranian media had previously reported that Tehran was seeking the release of a total of $24 billion in frozen funds.

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The reported asset issue is significant because frozen Iranian funds have long been tied to sanctions policy and wider negotiations over Iran's regional and economic position. Iran's central bank governor said "necessary memoranda were signed" to begin the release process, suggesting Tehran expects the matter to move forward. A separate report said the funds released under the emerging arrangement would not necessarily be limited to essential goods, which would imply broader access to international trade than previously understood.

The talks also appear to have touched on maritime security in the Strait of Hormuz, one of the world's most sensitive shipping routes. Ghalibaf said a centre and telephone hotline would be established to reduce the risk of incidents and miscommunication during a 30-day period, although the supplied material does not set out the full terms of that mechanism. The strait has been central to earlier tensions in the same developing story, with the negotiations linked to keeping commercial traffic moving and limiting escalation.

The wider context is that the Swiss discussions were not limited to one issue, but formed part of a broader package involving sanctions relief, shipping security and regional de-escalation. The supplied rows also say US Vice President JD Vance acknowledged the frozen assets issue but stopped short of confirming the $12 billion figure, describing the matter as complex and saying no final agreement had been reached. That leaves a gap between Tehran's account and Washington's position.

What remains unclear is whether the reported arrangements will be formally announced, how much money will actually be released, and what conditions may apply. It is also not clear how the Hormuz communication mechanism will operate in practice or whether further talks will produce a broader settlement. The next developments to watch are any direct statement from Washington, more detail from Iranian officials, and whether the reported memoranda lead to an actual transfer of funds.

Iran's parliament speaker, Mohammad Bagher Ghalibaf, has said the Strait of Hormuz will never return to its pre-war operating conditions and will be administered by Iran in line with international rules. His comments came after the first round of talks with the United States in Switzerland, which Iranian and regional mediators have linked to efforts to keep the shipping route open and reduce wider regional tensions. The remarks add a new political claim over one of the world's most sensitive maritime chokepoints.

Ghalibaf said Iran had returned from the Swiss talks with what he described as "good achievements", including discussion of the strait, Lebanon, oil waivers and the release of frozen funds. He also said the talks had helped prevent further escalation and claimed that Iran had been able to influence the outcome of discussions. According to the supplied reports, the two sides agreed to set up communication lines to avoid incidents and miscommunication affecting commercial shipping through the waterway.

The Strait of Hormuz is a critical passage for maritime traffic, and the supplied rows say it had been closed at the start of the war before reopening last week after an agreement between Washington and Tehran. One report says Tehran then announced another closure on Saturday in response to Israeli attacks in Lebanon. Maritime tracking firms were said to have recorded traffic continuing to flow, and at a faster pace than before the US-Iranian agreement on talks to end the war.

That makes the strait not only a military and diplomatic issue, but also a live commercial one. The comments matter because they sit at the intersection of shipping security, sanctions policy and the wider conflict involving Iran, the United States and Lebanon. The rows say the talks also touched on an oil waiver, sanctions relief and the unfreezing of assets, showing that the negotiations are not limited to one maritime route.

Any change in the status of the strait can affect energy markets, insurance costs and the movement of commercial vessels well beyond the immediate region. Ghalibaf's remarks also underline how central the strait has become in the post-war bargaining process. He said Iran would observe international regulations while administering the waterway, a formulation that suggests Tehran is seeking to combine sovereignty claims with assurances over navigation.

At the same time, he said he did not trust the United States, adding that Iran's confidence in Washington remained weak despite the talks. The supplied material also points to a broader diplomatic track involving Lebanon and regional ceasefire arrangements. Ghalibaf said the Swiss discussions included Lebanon's territorial integrity and ceasefire issues, and he claimed Iran's participation helped prevent more bloodshed there.

One row says mediators from Qatar and Pakistan were involved in establishing the communication line for safe passage of commercial vessels, indicating that the talks are being managed through multiple channels rather than direct bilateral diplomacy alone. The reports further say the United States temporarily suspended sanctions on Iranian oil after Vice President JD Vance said Tehran would allow UN nuclear inspectors to return. They also say Iran is set to receive some form of sanctions relief and the unfreezing of assets, although the exact terms are not detailed in the supplied rows.

Ghalibaf's comments therefore appear to be part of a wider package in which maritime access, sanctions and regional de-escalation are being negotiated together. What remains unclear is how far the parties have actually agreed on the future administration of the strait, and whether the communication lines will hold if tensions rise again. It is also not clear how the reported arrangements on frozen funds, oil waivers and Lebanon will be implemented in practice.

The next developments to watch are any formal statement from the United States, further details from the mediators, and whether commercial shipping through the strait remains uninterrupted.

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