Tehran (Diplomat.so) – Iranian Deputy Foreign Minister Kazem Gharibabadi said on Monday, June 15, that Iran and the United States of America are preparing a 60-day negotiation process focused on sanctions relief, reconstruction arrangements, and mechanisms to monitor mutual compliance under a developing diplomatic framework.
Gharibabadi stated that the start of negotiations depends on verifying the implementation of U.S. commitments outlined in a memorandum of understanding, including ending what Tehran describes as hostile measures, lifting restrictions, and releasing Iranian financial assets. He added that the proposed framework also includes provisions for monitoring compliance by all sides once talks begin.
He said a formal signing ceremony is scheduled for Friday in Switzerland, followed by a meeting between the heads of delegations to organize the structure and procedures of the upcoming negotiations. According to him, Iran has already incorporated its core positions into a draft memorandum that will be made public after the signing.
The Iranian official indicated that once launched, the negotiation phase would last approximately 60 days, aiming to reach a comprehensive agreement covering sanctions relief and related political and economic issues. He said the process reflects Tehran’s effort to secure binding guarantees while addressing outstanding disputes.
The announcement comes amid parallel statements attributed to U.S. President Donald Trump, who said an agreement had been completed and referenced measures concerning maritime navigation in the Strait of Hormuz. Pakistan’s Prime Minister Shehbaz Sharif also spoke of a Washington–Tehran understanding and mentioned a signing date set for June 19 in Switzerland.
Oil markets reacted immediately to the developments, with Brent crude declining by more than 4% during Monday trading as traders priced in reduced geopolitical risk in the Gulf region and potential improvements in shipping security conditions. The sharp drop reflected expectations of easing tensions affecting global supply routes.
Market participants described rapid repositioning across trading desks following initial reports. An energy trader based in London said selling accelerated within minutes as automated systems responded to headlines, while a Gulf-based analyst noted increased liquidity and a shift toward lower risk exposure in energy-linked assets. A regional logistics consultant added that shipping operators were reassessing insurance costs and transit assumptions linked to the Strait of Hormuz.
Diplomatic observers caution that key elements of the proposed framework remain unresolved, particularly regarding verification procedures, sequencing of sanctions relief, and enforcement mechanisms. The durability of the process is expected to depend on whether both sides translate preliminary understandings into a binding and enforceable agreement during the 60-day negotiation period.
