US and Iran Hold Talks in Switzerland, Agree on 60-Day Roadmap for Peace Deal Amid Strait of Hormuz Tensions

U.S. Vice President JD Vance and senior Iranian officials have commenced negotiations in Switzerland, leading to a 60-day roadmap for a final peace deal. This diplomatic progress includes the temporary lifting of U.S. oil sanctions on Iran, allowing the country to sell oil in dollars and potentially improving energy security in the Hormuz corridor. However, Iran has also asserted sovereignty over the Strait of Hormuz, with reports of its closure, raising concerns about global oil flows.