Vance touts progress in Iran talks as U.S. temporarily lifts oil sanctions

By — Liz Landers Liz Landers By — Kayan Taraporevala Kayan Taraporevala Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/vance-touts-progress-in-iran-talks-as-u-s-temporarily-lifts-oil-sanctions Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript Audio The U.S. temporarily removed oil sanctions on Iran Monday, creating the potential for an Iranian economic windfall in U.S. dollars as the first round of talks ended in Switzerland. Vance led the U.S. delegation, mediated by Qatar and Pakistan. The negotiations come as one of the main sticking points, the war in Lebanon, appeared to calm, at least for the day. Liz Landers reports. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. Nick Schifrin: Welcome to the "News Hour." The U.S. temporarily removed oil sanctions on Iran today, creating the potential for an Iranian economic windfall in U.S. dollars, as the first round of talks ended in Switzerland. Vice President J.D. Vance led the U.S. delegation mediated by Qatar and Pakistan. The negotiations come as one of the main sticking points, the war in Lebanon appeared, to calm, at least for the day. Donald Trump begins our coverage. President Trump: If Iran doesn't live up to their agreement or if they're not behaving, I will do what I have to do. Donald Trump: President Donald Trump today making a veiled threat to Iran if they don't adhere to the memorandum of understanding that was struck last week. Donald Trump: We're doing very well in terms of negotiating a fair and reasonable deal. Donald Trump: In Switzerland earlier today, Vice President J.D. Vance said talks with Iran are already paving the way for more technical discussions about its nuclear program. Vice President J.D. Vance: We did exactly what we wanted to do, which is accomplish four things for the American people. Donald Trump: Vance, touting progress, laid out those key points, establishing a mechanism for keeping the Strait of Hormuz open, coordination for the cease-fire between Israel and Hezbollah in Lebanon, a process for the technical negotiations that remain, and an agreement on IAEA inspection of nuclear facilities. But Iran's Foreign Ministry today denied negotiations on nuclear issues, saying they did not accept any new commitments. Shortly after Vance's comments, Treasury Secretary Scott Bessent announced that his agency would waive sanctions on Iranian oil as part of an interim agreement to end the war. The license authorizes the production, delivery and sale of Iranian oil in late August. Miad Maleki, a former top sanctions official at the Treasury Department, is now a senior fellow at the Foundation for Defense of Democracies. He called the dollar authorization, allowing Iran to get paid in U.S. dollars, a critical detail in the announcement. Miad Maleki, The Foundation for Defense of Democracies: Now, as far as cash, I think the