• On June 19 talks between Iran and the US were due to start in Switzerland.
• They were postponed, according to the press, "for logistical reasons."
• US Vice President JD Vance said the deal is in force and is already bearing fruit.

The Swiss Foreign Ministry announced that the first round of talks between the US and Iran is being postponed indefinitely. It was due to start in Bürgenstock on June 19, 2026. 

The new deal between Iran and the US may fall through

As a reminder, on June 15 US President Donald Trump announced the conclusion of a deal with Iran and the opening of the Strait of Hormuz to free navigation. Against this backdrop the stock and cryptocurrency markets posted positive momentum. 

On June 17 Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding, the text of which is cited by the outlet NPR. With this agreement the parties extended the ceasefire for another 60 days with the possibility of further prolongation. 

Among other things, the memorandum provides for lifting sanctions on Iran, unblocking the Strait of Hormuz and developing a $300 billion plan to rebuild the country. 

It was assumed that the parties would begin talks on a final agreement on June 19. However, in the end Vice President JD Vance's departure was canceled, as CNBC reports, because of "logistical problems." 

At the same time, the Swiss Foreign Ministry said it remains ready to provide a venue for these talks. In connection with this, preparatory work in Bürgenstock continues. 

The vice president's remarks

On June 18 Vance gave a press briefing on the situation in the Middle East. According to him, the deal is already bearing "fruit" for Americans:

"Last night about 12.5 million barrels of oil passed through the Strait of Hormuz. That is the most since the start of the conflict. Oil prices have fallen almost to the level they were at before the war. Gasoline prices today, for the first time since the start of the conflict, dropped below $4 per gallon. And, importantly, they will keep falling, given how low oil prices have become."

At the same time he refuted the claim that the US would supposedly directly pay $300 billion to Iran. Regarding nuclear weapons, Vance said the final agreement will likely involve the destruction or transfer of enriched uranium, Iran's abandonment of that process and regular inspections of nuclear facilities. 

The politician also commented on the trip to Switzerland:

"Maybe I'll go. It just depends on when exactly the Iranians can get there. We are trying to figure that out right now. But, again, I suspect it will happen this weekend. We will know for sure in the coming days."

Despite the fact that the event implies the possibility of further escalation of the conflict, there was no significant reaction from the stock and cryptocurrency markets to it. In particular, the S&P 500 index rose by a little more than 1% over the past 24 hours, according to TradingView. 

Source: Incrypted