Vance arrives in Switzerland for Iran talks as Trump floats taking 20% of oil transiting the Strait of Hormuz

U.S. Vice President JD Vance traveled to Switzerland to open talks with Iran, with mediators from Pakistan and Qatar involved, focusing on the nuclear issue and a Lebanon ceasefire. Separately, President Donald Trump said that if negotiations fail, the U.S. could “take over” the Strait of Hormuz and claim 20% of the oil that passes through it, warning that Iran would lose its country if it tried to close the waterway. The remarks amount to an escalation in military deterrence aimed at a critical global shipping chokepoint, even though no actual blockade has occurred. The flare-up has sharply raised the geopolitical risk premium.