The briefing for Sunday, June 21.

Vice President JD Vance landed in Switzerland early Sunday to begin negotiations with Iranian officials over Tehran's nuclear program, just days after the two countries signed an interim deal to end the war. Vance arrived at Emmen Air Base outside Lucerne around 6 a.m. local time, joining special envoy Steve Witkoff and Jared Kushner for talks with Iranian parliamentary speaker Mohammad Bagher Qalibaf and Foreign Minister Abbas Araghchi. Pakistani and Qatari mediators are also participating in the technical discussions at the Bürgenstock resort.

The talks come as the fragile agreement faces immediate stress. Iran announced Saturday it had re-closed the Strait of Hormuz—through which about 20% of the world's oil and natural gas flows—citing continued Israeli strikes in southern Lebanon as a breach of the deal. U.S. Central Command disputed the closure claim, saying 55 merchant ships carrying over 17 million barrels of oil transited the strait on Saturday. Vance had originally planned to arrive Friday, but delayed his departure after fighting escalated in Lebanon and Iranian officials initially canceled their attendance.

The interim agreement signed last week allows Iran to sell oil freely and access billions in frozen assets, while calling for Tehran to dilute its stockpile of highly enriched uranium. It provides 60 days for negotiators to work out technical details of a final nuclear deal. However, neither Israel nor Hezbollah are signatories to the U.S.-Iran framework. Israeli Prime Minister Benjamin Netanyahu has vowed to keep forces in southern Lebanon until threats are eliminated, while Hezbollah says it will continue attacks until Israel commits to withdrawing. At least 47 people were killed in Lebanon in the initial days after the agreement, with 20 more dying in the past 24 hours according to Lebanon's health ministry.

Cuba's government approved 176 new economic measures Friday that represent the most significant overhaul of the island's communist economy since the revolution. The reforms allow private businesses to operate with greater freedom, permit private banks for the first time, authorize foreign investment by Cubans abroad, and even allow fast-food chains to establish themselves on the island. The plan also enables businesses to import and export without state intermediation and freely hire personnel.

Political scientist Luis Carlos Battista, a doctoral candidate at the University of Salamanca, called the changes unprecedented. "Elements that for decades were listed as pillars of the revolutionary economy, such as the state monopoly on foreign trade and the centralization of productive forces, have been dismantled," he said. The reforms come as Cuba faces its worst economic crisis in a generation, exacerbated by tightened U.S. sanctions under President Trump. Under Cuba's current model, the government largely controls production, pricing, and resource allocation.

In an interview this week, the grandson of former President Raúl Castro acknowledged Cuba must modernize its economy. Previous reform efforts under Castro have stalled due to bureaucratic resistance, but the severity of the current crisis appears to have forced the government's hand. The island has struggled with chronic shortages of basic goods, fuel, and medicine. The new measures aim to attract foreign investment and stimulate growth while maintaining the government's political control.

More than 41 million Colombians are eligible to vote Sunday in a deeply divisive presidential runoff between conservative businessman Abelardo de la Espriella and progressive lawmaker Iván Cepeda. The election comes as violence has surged to levels not seen since before the 2016 FARC peace deal, with 14,780 homicides recorded last year and extortions more than doubling since 2015. The campaign has been marked by the assassination of conservative candidate Miguel Uribe and escalating clashes among illegal armed groups.

De la Espriella, nicknamed "The Tiger" and endorsed by President Trump, finished first in the May 31 vote with 44% compared to Cepeda's 41%. He has promised to build 10 mega-prisons modeled on El Salvador's approach and take a hard-line military stance against criminal gangs, declaring that "any criminal who does not surrender will be taken down." Cepeda, heir to outgoing President Gustavo Petro's political movement, pledges to continue peace negotiations with armed groups—a strategy critics say has failed as most groups abandoned ideological fights for drug trafficking profits.

The violence has driven mass displacement, with Edilma Martinez Flores among those forced to flee after her brother was murdered for not paying extortion. Armed groups including FARC dissidents, the ELN, and Clan del Golfo have roughly doubled their membership over the past five years, expanding control over drug trafficking and illegal mining routes. Former President Evo Morales has supported the protests from hiding while evading arrest on statutory rape charges. "What I hope is that people accept who won," said Bogotá lawyer John Manrique. "Let's not go out and fight."

President Rodrigo Paz declared a 90-day state of emergency Saturday, granting the military broad authority to clear road blockades that have strangled fuel and food supplies to La Paz and other major cities. The measure, which must be approved or rejected by Congress within 72 hours, aims to end five weeks of protests that have led to at least 17 deaths—most linked to lack of medical care caused by transportation disruptions. Authorities report 365 arrests and 37 injuries from clashes between dynamite-wielding demonstrators and riot police.

The protests, led by highland Indigenous and rural workers' groups, initially erupted over proposed land reforms but expanded to include demands for Paz's resignation over austerity measures. The centrist president, who took office in November ending nearly 20 years of Movement Toward Socialism rule, eliminated long-standing fuel subsidies and implemented other belt-tightening policies. While he fixed chronic fuel shortages, the replacement gasoline was poor quality and damaged thousands of vehicles. His reforms to encourage foreign investment have stalled in Congress.

Paz signed an agreement Friday night with Bolivia's main union to lift blockades, but some Indigenous groups have vowed to continue protesting. The state of emergency prohibits blocking transportation routes and authorizes armed forces to support police in reopening roads, though it doesn't limit constitutional rights. "Bolivians cannot continue to be hostages of blockades that prevent working, studying, receiving medical attention," Paz said. The Trump administration has backed Paz and is ramping up emergency assistance, while former President Evo Morales supports the protests from his hideout in coca-growing regions.

Federal Reserve Chair Kevin Warsh made dramatic changes in his first press conference Wednesday, cutting the central bank's policy statement from 341 words to 132 and eliminating all forward guidance about future interest rate moves. The shift reverses decades of increased Fed transparency and could lead to higher volatility in financial markets and potentially higher borrowing costs for consumers. The broad S&P 500 stock index dropped 1.2% Wednesday following Warsh's remarks.

The 10-year Treasury yield jumped to 4.49% from 4.43% after the announcement, though it fell back Thursday. The 2-year Treasury yield rose to 4.16% from 4.05%, reflecting market uncertainty about the Fed's next moves. Warsh, citing former chair Alan Greenspan as a model, believes financial markets have become too dependent on Fed guidance and that such direction is most effective during crises or downturns. George Pearkes of Bespoke Investment Group noted that forward guidance "has served to suppress volatility and anchor market expectations," leading to lower borrowing rates.

Warsh announced five task forces to examine Fed communications, its balance sheet, economic data analysis, AI's impact on productivity, and inflation frameworks. The communications task force will review quarterly economic projections and recent innovations including press conferences—which Warsh could ultimately scale back. Matthew Luzzetti of Deutsche Bank called it "a big change" that puts the Fed's one-way train toward greater transparency "in reverse." Analysts estimate the impact on consumers could include mortgage rates perhaps a quarter-point higher than they would be otherwise.