US suspends Iran sanctions after 'good progress' in talks

The US temporarily suspended sanctions against Iran following high-level talks in Switzerland, allowing Iranian oil production and sales until August 21. Iran committed to free transit in the Strait of Hormuz and IAEA inspections, but denied making new nuclear-related commitments. The move is part of a 60-day Islamabad Memorandum of Understanding (MOU) framework aimed at reducing hostilities.