Iran, U.S. Conclude Doha Talks on MoU Rollout

No progress could be made on Wednesday in indirect talks in Doha between the United States and Iran, as both sides held technical talks to work out how to implement a memorandum of understanding (MoU) signed in June that ended their five-month conflict, Islamic Republic of Iran News reported.

The discussions are held without any physical contact

U.S. emissaries Steve Witkoff and Jared Kushner met representatives of Qatari and Pakistani mediators for two days in the Qatari capital, but did not discuss with Iranian negotiators. The pair also had a meeting with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani to discuss “the state of the negotiations” and developments in Lebanon, the Emir's office said.

Deputy Foreign Minister Kazem Gharibabadi, who participated in the talks in Doha, said that working groups had been established for the MOU implementation and to negotiate a final agreement, but that formal negotiations in that format had not yet started. Consultations were ongoing to see when and where formal talks would begin, he added.

Sticking Points: Assets and Inspections

The 60-day MoU pledges Washington to easing sanctions and unfreezing Iranian assets, while Tehran will guarantee safe passage for ships through the Strait of Hormuz. Iran's chief negotiator, parliament speaker Mohammad Baqer Qalibaf, said Tehran will not engage in any additional talks until the U.S.

The head of Iran's frozen assets fund, Ghalibaf, has stated that $12 billion has been released from the frozen assets fund for purchasing goods from "whomever we want," although it remains unclear where that $12 billion figures comes from as the roughly $24 billion in frozen Iranian funds has yet to be disbursed.

Washington will act decisively, whether or not the outcome is a win or a loss, U.S. Vice-President J.D. Vance told Fox News in an interview. “In our hands are all of the cards in the negotiation,” he said. Obviously, it would be nice for it to be successful, but if it isn't, we still achieved the key objective, which is to make sure that the Iranians never acquire a nuclear weapon," he said.

After a slowdown in shipping traffic, it is now returning slowly

Commodities intelligence firm Kpler recorded 34 verified vessel crossings via the Strait of Hormuz on the 30 June, encompassing commercial, energy and support traffic, and the International Maritime Organization (IMO) reported 49 confirmed incidents across the broader region, as of the same date.

The Doha round is taking place as Iran is preparing for a six-day state funeral from July 4 that will see some 15-20 million mourners attend, raising the possibility of a slowdown in the pace of talks in the week ahead, diplomats said.