Vance Says US Holds Upper Hand in Iran Nuclear Talks, Geneva Signing Set for June 19

US Vice President JD Vance said the US holds the upper hand in follow-up nuclear negotiations with Iran. The two sides have agreed to a basic framework for a ceasefire and verification, though further talks are needed on implementation and the conditions for sanctions relief.

BlockBeats, a cryptocurrency-focused media outlet, reported June 16 that Vance told CNBC the US and Iran had reached an initial agreement on a ceasefire and verification framework, but many technical details still need to be finalized.

Vance also said the US is in the lead in the next phase of negotiations. The agreement was reached on June 14, extending the ceasefire by 60 days and establishing a basic framework for follow-up talks over Iran's nuclear program.

A senior US official said President Donald Trump, Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf have already signed the terms as a memorandum of understanding. A formal signing ceremony is set for June 19 in Geneva, Switzerland.

The detailed terms of the agreement are due to be released within the next 24 to 48 hours. Vance had previously said the US-Iran agreement had already been concluded through electronic signatures.

Vance identified the deal's main goals as restoring transit through the Strait of Hormuz and securing Iran's commitment to give up long-term nuclear weapons development. He added that Iranian Foreign Minister Abbas Araghchi is expected to attend the June 19 signing ceremony and participate in the first round of negotiations.

Ghalibaf's participation is also drawing attention. BlockBeats said his involvement is viewed as a sign that conservatives inside Iran may support the agreement.

The main issue in the follow-up talks is expected to be the verification regime. Vance said Iran has pledged to dispose of its stockpile of highly enriched material, but the specific method has yet to be decided.

Sanctions relief will also be discussed on a conditional basis. The US is open to easing sanctions, but only if Iran makes a clear commitment to a long-term verification framework.

Markets are watching the formal signing ceremony in Geneva on June 19 and whether details of the agreement will be released. If transit through the Strait of Hormuz resumes and nuclear verification procedures are clarified, concerns over oil supply disruptions and Middle East geopolitical risk could ease further.