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The Israeli leader cited the need to defend northern Israeli communities against Hezbollah attacks.
Oil prices had already begun to drop before Bessent’s announcement, in the wake of the talks.
Mullin also said he has engaged in ’multiple conversations’ with FIFA President Gianni Infantino on the matter.
The vice president said the talks produced progress on nuclear monitoring, the Strait of Hormuz, and a mechanism to manage tensions in Lebanon.
The market calmed following negotiations in the Alpine nation that saw the reopening of the Strait of Hormuz.
‘Flows of oil and natural gas through the straits have already returned to normal,’ U.S. Energy Secretary Chris Wright says.
The remarks were made as Vance and other Trump administration negotiators met with Iranian officials in Switzerland.
According to a joint statement, the parties have agreed to work toward reaching a final deal within 60 days, with technical talks to start immediately.
Iranian authorities earlier announced they had closed the Strait of Hormuz in response to Israeli military operations in Lebanon.
Talks had been postponed because of clashes between Israeli forces and Hezbollah in Lebanon.
Iranian state media reported the closure was due to violations by the United States and Israel.
The U.S. military has not claimed responsibility for the strikes on the school, which is located near an Iranian military base.
The longtime Iran hawk said that he agrees with the Trump administration’s assessment of Iran’s degraded military capacity.
The U.S. president said the conflict had ‘diminished Iran.’
Israel’s ambassador to the United States said Israeli troops would continue sweeping for Hezbollah in a security zone in southern Lebanon.
The Swiss Foreign Ministry said it remained ready to facilitate these talks at a later date.
The renewed violence came as U.S. officials imposed fresh sanctions on Hezbollah-linked figures and businesses.
The vice president suggested that Israeli officials shouldn’t be attacking the country’s ‘only powerful ally’ left in the world.
The White House said logistics of the talks with Iran ‘have never been simple or predictable,’ suggesting the plans remain fluid.
