U.S. Vice President J.D. Vance said on the 18th (local time) that 60 days of negotiations had begun under a memorandum of understanding (MOU) to end hostilities with Iran.
Vice President Vance held a news conference at the White House that day and said, "I would say the 60-day negotiation period officially began today." The United States and Iran agreed to halt fighting on all fronts in the Middle East and hold follow-up talks on Iran's denuclearization for the next 60 days.
Vice President Vance said talks with the Iranian delegation were planned for this weekend but could change. The U.S. delegation led by Vice President Vance and Iranian parliament speaker Mohammad Bagher Ghalibaf had been scheduled to meet in Switzerland on the 19th for an MOU signing ceremony and then begin follow-up negotiations, but the ceremony was canceled after the presidents of both countries signed remotely the previous day.
On economic compensation to be provided to Iran, Vice President Vance said it would be possible only "when Iran fully fulfills its commitments and changes its behavior." The remark appeared to acknowledge criticism that too much compensation had been promised without firm denuclearization steps by Iran.
Vice President Vance stressed to Israel that it must respect this MOU. He also said attacks on civilians in Beirut, the capital of Lebanon, cannot be tolerated.