Diplomacy advances as US-Iran sign MOU while Hormuz traffic resumes and Switzerland talks falter

U.S. and Iran signed a memorandum of understanding to guide talks on implementing a broader 14-point framework, but Friday’s planned Switzerland talks were postponed as VP JD Vance won’t travel until final details are set. Iran’s officials voiced deep mistrust toward Washington and warned of retaliation for any breach. The Strait of Hormuz is reopening gradually under Iran’s authority, with traffic likely to normalize in weeks and a 60-day window during which no vessel entry fees will be charged. U.S. negotiators are pursuing secret implementing proposals ahead of a potential final deal within 60 days.