US-Iran technical talks in Switzerland agree on safe shipping corridor through Strait of Hormuz (opens in new tab)

US and Iranian negotiators meeting in Switzerland on 22 June agreed on a technical mechanism to keep the Strait of Hormuz open and safe. The deal, brokered by Qatar and Pakistan, should ease insurance costs and pave the way for the UAE to roll back air-space detours imposed after earlier missile attacks. It matters because the strait is the UAE’s primary trade artery and a critical corridor for business travel and corporate logistics.