US, Iran make 'encouraging progress' after hours-long talks in Burgenstock; agree on roadmap to reach final peace deal in 60 days

Key developments: US-Iran agree to a roadmap toward a final deal within 60 days; technical-level talks to continue for the rest of the week in Switzerland US-Iran agree to set up a communication line” to avoid incidents in the Strait of Hormuz; agree to a mechanism to end war in Lebanon Iran’s foreign minister says “tireless” efforts by Pakistan Qatar has delivered “major progress” to end Lebanon war; says Iran has secured waivers for oil and petrochemical exports, the release of some frozen assets and the launch of a reconstruction and development plan After hours-long negotiations in the Swiss resort of Burgenstock, the United States and Iran agreed on a roadmap towards reaching a final peace deal in 60 days, a joint statement issued by mediators Pakistan and Qatar said on Monday. The talks, which began on Sunday and stretched into Monday, were held under the framework of the Islamabad Memorandum of Understanding (MoU) that was signed between the two sides on Thursday. Prime Minister Shehbaz Sharif had also signed the breakthrough interim peace deal as a mediator, marking a significant step toward ending the conflict that began in late February. The joint statement issued by Pakistan and Qatar on Monday after the second round of direct talks between the two sides — the first having been held in Islamabad in April — said the first session of the talks under the framework of the Islamabad MoU had concluded with the participation of representatives from Iran, the US and the mediators. “The Lake Lucerne Summit was conducted in a positive and constructive atmosphere. Encouraging progress has been made, including the creation of a mechanism for further technical talks,” the statement read. It added that building on the Islamabad MoU, the two sides had agreed to the establishment of a high-level committee, “which will provide political oversight on the mediation”. “Chief negotiators will report regularly to the high-level committee and lead working groups focused on nucl