JD Vance joins high‑stakes US–Iran peace push as Hormuz tensions threaten 20% of world oil

JD Vance has flown into Switzerland to join Donald Trump’s envoys in 60‑day roadmap talks with Iran, after Pakistan and Qatar said negotiations were making “positive progress” on nukes and sanctions.

His arrival comes as Iran claims the Strait of Hormuz is “closed” while the US insists 55 ships passed in a single day, raising questions over how far Tehran’s new permit system can disrupt a chokepoint that handles about 20% of global oil flows.

With oil prices sliding roughly 20% from recent highs and Japan and South Korea’s stock markets hitting records on the peace headlines, investors are now betting that Vance’s role in the talks could be as important for markets as it is for Middle East diplomacy.