Iran says the United States has agreed to release $12 billion in frozen Iranian assets following high-level negotiations in Switzerland. But Washington has not confirmed the figure, creating a major credibility gap between the two sides.
Iranian officials claim memoranda have already been signed to begin the release process, while U.S. Vice President JD Vance has acknowledged discussions on frozen assets but insists no final agreement has been reached. The conflicting narratives have raised questions about what was really agreed behind closed doors.
At the same time, reports of a 60-day sanctions waiver, expanded Iranian oil exports, and possible access to dollar transactions are fueling speculation that a major shift in U.S.-Iran relations could be underway.
Is a historic breakthrough taking shape, or are both sides presenting very different versions of the same negotiations? Here's everything we know about the Switzerland talks, the frozen assets dispute, sanctions relief, and the future of U.S.-Iran diplomacy.
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