Iran war day 116: US eases Iran sanctions; Lebanon ceasefire holds

US announces the temporary easing of oil sanctions for 60 days after Iran agrees to allow international nuclear inspections.Iran’s top negotiator, Mohammad Bagher Ghalibaf, says an agreement has been reached with the United States to release $12bn in frozen Iranian funds following talks in Switzerland.The US eased sanctions on Iranian oil for 60 days after Tehran committed to allowing international nuclear inspectors to return to the country during negotiations to end the US-Israel war on Iran.Recommended Stories list of 4 itemslist 1 of 4US partially lifts Iran oil sanctions amid ‘encouraging’ talkslist 2 of 4Marco Rubio heads to Middle East to address Iran MoU, Hormuzlist 3 of 4Lebanon discusses ‘deconfliction’ mechanism ahead of Israel talkslist 4 of 4Why Iran’s President Pezeshkian is heading to Pakistan after US talksend of listIsrael and Lebanon are scheduled to hold talks in the US as a ceasefire appears to be holding in Lebanon.So what’s the latest as the conflict enters its 116th day?Diplomacy Iranian Deputy Foreign Minister Kazem Gharibabadi says technical talks with the US have concluded and the next phase “will take place under the supervision of the high-level committee” that includes Ghalibaf, Foreign Minister Abbas Araghchi and US Vice President JD Vance. Ghalibaf has hailed “good achievements” in the US-Iran talks and confirmed the release of two tranches of $6bn in frozen funds. The US Treasury Department has waived sanctions on the sale of Iranian crude ⁠oil, petrochemicals ⁠and petroleum products until ⁠August 21. Omani Foreign Minister Badr Albusaidi reaffirms a commitment for “toll-free passage” in the Strait of Hormuz after talks with Iranian diplomats in Muscat. Henry Ensher, a former US ambassador and deputy assistant secretary of state, says the release of frozen Iranian assets and the resumption of maritime traffic in the Strait of Hormuz suggest that Washington and Tehran are both “getting what they want”. “Both sides are very interested to show that, somehow, they’ve gotten the upper hand or at least that they’re not being taken advantage of,” Ensher tells Al Jazeera.