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Jun 23, 2026 Major4
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Iran and US Establish Working Groups to Advance Nuclear and Sanctions Negotiations
Iran and the United States have agreed to establish four working groups to negotiate sanctions relief, nuclear issues, economic reconstruction, and implementation oversight. The parties will immediately unfreeze $12 billion in Iranian assets and have created a communication hotline to manage Strait of Hormuz vessel safety, with Iran maintaining management authority over the strategically vital waterway.
Quick Facts
Who
Iranian Deputy Foreign Minister Araghchi
What
Established four working groups for sanctions relief, nuclear issues, economic reconstruction, and oversight
When
June 21-22, 2026 (high-level committee meeting)
Where
Switzerland (Birch Mountain/Bilderberg location near Davos area - negotiation site)
- Established four working groups for sanctions relief, nuclear issues, economic reconstruction, and oversight
- Agreed to immediately unfreeze $12 billion in frozen Iranian assets
- Established liaison point for Strait of Hormuz merchant vessel safety
- Created conflict prevention mechanism for Lebanon situation
- Established coordination center and communication hotline for resolving maritime issues
Iran and the United States, along with mediator nations Qatar and Pakistan, have agreed to establish multiple consultation working groups to advance negotiations on key issues, Iranian officials announced on June 23, 2026. According to Iran's Deputy Foreign Minister Araghchi, the four working groups will address sanctions relief, nuclear issues, economic reconstruction and development, and oversight and implementation. The parties have also agreed to immediately proceed with unfreezing $12 billion in frozen Iranian assets and will establish a liaison point to manage merchant vessel safety in the Strait of Hormuz, as well as a conflict prevention mechanism regarding Lebanon.
Iranian Parliament Speaker Kaylibar made clear that Iran will manage the Strait of Hormuz according to international law and national arrangements, stating the situation "will never return to pre-war conditions." He explained that a coordination center and communication hotline will be established to resolve potential issues within 30 days, though he emphasized the hotline is not for obtaining navigation permits—which follow a separate procedure. "The management authority of the strait is in Iran's hands, and we will solve problems," Kaylibar said.
The high-level committee overseeing negotiations met on June 21-22 in Switzerland to establish implementation mechanisms for a memorandum of understanding. Technical talks have concluded regarding the release of Iranian oil exports and related sanctions issues. The next phase of negotiations will be conducted under the high-level committee's supervision, with participation from Iranian Parliament Speaker Kaylibar, Foreign Minister Araghchi, US Vice President Vance, Pakistani Prime Minister Sharif, and Qatar's Prime Minister and Foreign Minister Mohammed.
The agreement represents a significant diplomatic breakthrough after months of tensions. Both sides have signaled commitment to resolving longstanding disputes through structured negotiations, with the working groups expected to address the most contentious issues separately while maintaining momentum toward broader reconciliation.
Why This Matters
This diplomatic breakthrough signals potential resolution of decades-long US-Iran tensions through structured multilateral negotiations. The immediate unfreezing of $12 billion provides tangible relief to Iran's economy, while the working groups create mechanisms to address nuclear proliferation concerns and sanctions architecture—key interests for global stability, energy markets, and regional security. For investors and policymakers, the coordination mechanisms on the Strait of Hormuz reduce geopolitical risk to critical shipping routes and oil supplies.
Timeline & Sources
Jun 21, 2026
WireHigh-level committee meeting begins in Switzerland
Jun 22, 2026
WireHigh-level committee meeting concludes; technical talks continue; Iranian main delegation departs Switzerland
Jun 22, 2026
WireQatar and Pakistan issue joint statement on establishing high-level committee
Jun 22, 2026
WireParliament Speaker Kaylibar speaks to media on return flight from Switzerland
Jun 23, 2026
WireDeputy Foreign Minister Araghchi announces establishment of four working groups and details of negotiations
Jun 23, 2026
WireNews reports confirm $12 billion asset unfreezing agreement and working group formation