The United States waived sanctions on Iran for 60 days from Monday after the first talks under a nascent ​peace deal, while officials reported a sustained lull in fighting in Lebanon under the agreement aimed at ending hostilities across the region.

The developments followed a weekend that had appeared to ‌put the week-old accord in jeopardy, including threats from U.S. President Donald Trump to restart the war if Iran disrupted shipping through the Strait of Hormuz after Tehran declared the strategic waterway closed. Tanker traffic through the strait started to pick up on Monday and oil prices resumed their slide.

U.S. Vice President JD Vance said talks with Iranian officials in Switzerland had laid a good foundation for a final peace deal, although Iran denied that it had begun discussions of its nuclear program.

U.S.-Israeli attacks on Iran, and Israeli strikes in Lebanon have killed ​thousands and displaced millions. The Iran war has also shaken markets around the world and raised global oil prices, which settled 3% lower on Monday after Vance reported progress had been made.

The two ​sides, trying to build on the interim deal they signed last week, agreed a roadmap towards a permanent agreement within 60 days at the talks in the Qatari-owned Swiss ⁠mountain resort of Buergenstock, mediators Pakistan and Qatar said.

They also agreed on a mechanism to end fighting in Lebanon between U.S. ally Israel and Iran-aligned Hezbollah, and opened a communications line to help ensure safe passage ​for commercial ships through the Strait of Hormuz in order to avoid conflict in the strategic waterway.

In the first of several steps envisaged under the agreement to provide economic relief to Iran, the U.S. Treasury announced a waiver until August ​21 on sanctions, allowing Tehran to sell oil and related products and receive payment for them.

VANCE DELIVERS UPBEAT ASSESSMENT

Vance, who has maintained an upbeat tone since the memorandum of understanding was signed, said Tehran had agreed to allow in nuclear inspectors, and to establish mechanisms to handle its assets frozen abroad and manage ceasefires.

“We laid a very good foundation for a successful final deal,” he told reporters after taking part in the talks.

However, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei told the official IRNA news agency that ​Iran had not yet discussed nuclear issues or made new commitments.

Trump said in a post on Truth Social on Monday that Iran will agree to have weapons inspections to ensure “nuclear honesty.”

“If Iran doesn’t live up to their ​agreement, or if they’re not behaving, I will do what I have to do,” Trump later told reporters.

Iran has limited inspections by the International Atomic Energy Agency since the U.S. and Israel launched a first round of air strikes last year, ‌and suspended them ⁠entirely when war broke out in February. It says its nuclear program is peaceful.

Iranian Foreign Minister Abbas Araqchi said on social media that Tehran had secured waivers for oil and petrochemical exports, the release of some of its frozen assets abroad and the launch of a reconstruction and development plan for Iran.

Vance said White House envoy Jared Kushner, Trump’s son-in-law, had come up with a process whereby the U.S. and Qatar would have control over Iranian funds when they are unfrozen, and the money could be spent on U.S. corn, soy and wheat.

“So, the money that we lift is going to go to our farmers,” Trump told reporters.

However, Iran’s Central Bank Governor Abdolnaser Hemmati said there ​was no such obligation and said at least some ​of the remaining frozen funds could be used to ⁠buy other non-sanctioned goods, Iran’s Tasnim news agency reported.

HALT TO HOSTILITIES

Technical talks were due to continue for the rest of this week.

The interim peace agreement calls for ending all hostilities, including in Lebanon, which Israel invaded in March after Hezbollah fired across the border.

Israel was not party to the peace agreement and says it will not ​withdraw its troops from Lebanon, but on Friday it agreed a new ceasefire. Though intense fighting continued for another day, Lebanese officials said it had abated since ​Saturday night.

Israel and Lebanon were due ⁠to start a new round of talks in Washington on Tuesday, with Beirut determined to press ahead with direct negotiations even as they appear to be overshadowed by Iran’s decision to make Lebanon part of its negotiations with the United States.

Hassan Wazni, director of a hospital in the heavily bombarded city of Nabatieh, said it was the first two full days of calm since the war began.

“I’m monitoring the situation day by day, and most of the time I’m sleeping in ⁠the hospital. This ​is the longest a ceasefire has held,” he told Reuters by phone.

More than a million Lebanese have been displaced by the war, ​and though some have begun returning to their homes, many are still too wary.

In Qennarit, a southern town, mourners carried the bodies of four women killed in Saturday’s wave of Israeli strikes. The coffins were draped in yellow Hezbollah flags with the group’s green logo of ​an arm holding an assault rifle.

Reuters

Colombia elected nationalist lawyer Abelardo ​De La Espriella as its new president on Sunday, according to an initial vote count, marking a sharp political turn and ‌bringing a hardline security agenda and market-friendly policies to the fore.

Nicknamed “The Tiger” by his followers, De La Espriella portrayed himself as an anti-establishment savior capable of reviving Colombia’s ailing economy and restoring order in a country rattled by illegal armed groups and drug trafficking.

De La Espriella began gaining popularity early in the year with ​his tough-on-crime discourse. He pulled off a victory in the first round in late May with 43.7% of the vote and ​then beat leftist senator Ivan Cepeda in the runoff with 49.66% to Cepeda’s 48.7%, according to the national registrar’s ⁠tally.

De La Espriella, who blames outgoing President Gustavo for Colombia’s economic and security woes, won over a plurality of voters with pledges to reduce the size of ​the state by 40%, broaden the tax base and end peace efforts with armed groups in favor of a hardened military response.

He plans ​to restart oil exploration and allow fracking to nearly double production to 1.3 million barrels per day.

De La Espriella claims to have self-financed his campaign and says his “Defenders of the Homeland” movement grew without support from outside political parties or business groups. Reuters could not independently verify this claim.

Aside from being an attorney, De La ​Espriella has a sprawling business empire that includes wine, rum, clothing and real estate. An investigative journalism outlet, La Silla Vacia, found that ​many of his businesses have been dissolved, are in debt and lost money overall in 2024, with his law firm being his most profitable endeavor. De La ‌Espriella’s campaign ⁠declined to answer La Silla Vacia’s questions about the candidate’s businesses, the outlet said, but later questioned its funding in a public letter. La Silla Vacia rejected allegations of bias.

LUXURY WATCHES ON AN IRON FIST

De La Espriella, 47, used a military salute throughout his campaign despite never having served in the military.

Often seen wearing luxury watches, designer sunglasses and with a well-groomed beard, De La Espriella has drawn comparisons to El Salvador’s ​Nayib Bukele, who calls himself the “world’s ​coolest dictator.”

Bukele has implemented heavy-handed ⁠security policies and mega-prisons that pushed crime rates in El Salvador to among the lowest in Central America and prompted calls for other countries to adopt similar policies. He has detained more than 90,000 people in ​the process, drawing criticism from human rights groups.

De La Espriella denies he is imitating Bukele but has ​proposed 10 mega-prisons ⁠in Colombia.

De La Espriella has also faced criticism for legally representing Alex Saab, who faces charges in the U.S. of laundering money for ousted Venezuelan President Nicolas Maduro. He has also represented people linked to corruption scandals, financial embezzlement and right-wing paramilitaries and says his professional relationships as an attorney ⁠do not ​involve any complicity or crime.

De La Espriella, a married father of four, grew up ​in the Caribbean city of Monteria and is a known singer of the region’s traditional vallenato folk music. A citizen of the United States, Italy and Colombia, De La Espriella ​is set to assume the presidency on August 7.

Thomson Reuters

Elon Musk shared a heartfelt post on Father’s Day today.The SpaceX, Grok and Tesla Boss shared an adorable picture with his family to cherish sweet memories on this special day.

The news came after Musk’s mother Maye Musk posted a picture with two of her sons-Elon Musk and his brother Kimbal Musk.

Kimbal is a well-known South African-American restaurateur, chef, and entrepreneur. He is famous for co-founding software companies with Elon in the 1990s, serving on the Tesla board of directors.

Maye Musk also posted a Father’s Day tribute on X that included her family photos celebrating her own father.

Additionally, Musk also tweeted a separate post for wishing everyone a very Happy Father’s Day and then followed up in a reply to the tweet with “I love all my kids so much.”

Elon Musk and his father, Errol Musk, are widely reported to have a strained and largely estranged relationship and he rarely post anything with him.

Importantly, the Grok founder also introduced a cute feature after he updated the platform’s layout on X today so that clicking the “Like” button triggered a special Father’s Day animation, causing many users to share older family pictures to test it out.

Father’s Day is celebrated on the third Sunday of June each year in many countries, including the UK and the US.

The Int’l News