Iran's Foreign Minister Abbas Araghchi says U.S. will lift blockade of Strait of Hormuz after talks in Switzerland.
Iran's Foreign Minister announced the U.S. lifted the Strait of Hormuz blockade and waived oil exports under a $300B reconstruction deal. Reopening the critical shipping lane reduces supply chain risk for semiconductor and hardware imports via Middle East corridors.
Iran’s Foreign Minister Seyed Abbas Araghchi on Sunday said that the U.S. will lift its naval blockade of the Strait of Hormuz after the first round of talks concluded in Switzerland following the Memorandum of Understanding (MoU) signed by Washington and Tehran.
‘Tireless’ Mediation
In a post on X on Sunday, Araghchi quoted a joint statement shared following the talks in Burgenstock, Switzerland, which also had Vice President JD Vance present.
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