U.S. and Iranian negotiators to meet in Switzerland

U.S. and Iranian negotiators are set to meet in Switzerland on Friday after nearly four months of war. The session follows approval this week of a memorandum of understanding that outlines a 60-day period for addressing remaining issues.

Nuclear program and enrichment The status of Iran's nuclear activities is listed among the central topics. Points of contention include the handling of Iran's stockpile of near-bomb-grade uranium and future limits on uranium enrichment. Discussions have also covered possible inspection arrangements similar to those in a 2015 agreement.

The memorandum calls for reopening the Strait of Hormuz on Friday. The waterway normally carries one-fifth of global oil shipments. The U.S. has stated the passage will be toll-free, while Iran has indicated it will retain a management role.

Sanctions relief and frozen assets Iran has requested prompt removal of sanctions and access to frozen funds. The U.S. has indicated that any easing would occur gradually and be linked to compliance steps. The memorandum provides for immediate waivers allowing Iran to sell oil again.

Regional security and negotiating dynamics Further talks may address a ceasefire in Lebanon. The two sides differ in approach, with one side favoring rapid outcomes and the other preferring extended discussions. The 60-day timeframe is shorter than the roughly two-year period required to complete the 2015 agreement.