‘Lipstick on a very ugly pig’: Inside Vance’s hard sell on Iran - MS NOW

On 23 June 2026, US and Iranian officials concluded technical talks in Switzerland, with US Vice President Vance taking part. Bessent said Iran had committed to 'free, open' transit through the Strait of Hormuz and the return of IAEA inspectors, and Vance said the talks set a 'good foundation' for a deal to end the war. Iran contradicted this, saying it has no new commitments on nuclear sites and no plans for IAEA inspections. Iranian President Pezeshkian said there were no ballistic missile talks with the US.

The two sides gave conflicting accounts of Hormuz fees: Iran's chief negotiator said Tehran will administer the strait, while Rubio rejected tolls. Iran said an agreement was reached to release $12 billion in frozen funds, and the Times of India wrote that a US-Iran memorandum outlines a $300 billion reconstruction fund. Ghalibaf said Iran walked out of the talks after Trump's threats, while Pakistan's Dar said Israeli attacks on Lebanon nearly derailed them.