Delegation staff members meet in the lobby on the day of a quadrilateral meeting between the United States, Iran, Pakistan and Qatar at the Burgenstock luxury hotel complex overlooking Lake Lucerne, Switzerland, on June 21, 2026, as part of high-level talks aimed at advancing a deal to end the Middle East conflict.
The United States and Iran on June 23 held separate high-level visits to discuss the details of a peace deal, after they agreed in talks in Switzerland to establish working groups on key issues after negotiations.
The round of talks held this weekend at Switzerland’s luxury Bürgenstock resort raised hopes for a lasting settlement and contributed to a decline in oil prices.
Tehran and Washington signed a memorandum of understanding aimed at ending a war that destabilized the Middle East and disrupted the global economy. The agreement opens a 60-day window to resolve broader issues, including Iran’s nuclear program and sanctions relief.
Diplomatic efforts have since intensified, as U.S. Secretary of State Marco Rubio on June 23 kicked off his visit to the United Arab Emirates, Kuwait, Bahrain.
The U.S. top diplomat also held talks with Saudi Arabia, Qatar and Oman during a gathering in Bahrain, focusing on regional security, the status of the Strait of Hormuz and concerns among Gulf states regarding the deal.
He is also expected to follow a “balancing approach” to ease Gulf concerns about the agreement.
Rubio is additionally expected to encourage Gulf countries to consider large-scale economic engagement with Iran, including potential investment flows of up to $300 billion.
Meanwhile, Iran’s President Masoud Pezeshkian visited Pakistan on June 23. Iranian Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi met Oman’s Foreign Minister Badr bin Hamad Al Busaidi during an official visit.
One of the key issues discussed is expected to be the coordinated management of the Strait of Hormuz with Oman.
Mediators Pakistan and Qatar stated that both sides have agreed on a “roadmap” toward a final agreement within the 60-day period. Four working groups have been formed to address nuclear issues, sanctions
and other key topics, according to Iranian state media.
The U.S. Treasury said sanctions were temporarily eased to allow Iran to produce, sell and export crude oil and related products until mid-August.
As part of the understanding, Washington also agreed to release $12 billion in frozen Iranian assets, according to Iranian media.
However, U.S. officials clarified that the funds have not yet been unfrozen; if released, they would be used for civilian imports such as U.S. agricultural goods and would not support militant activities.
