China's Xiamen launches first sea route to Ecuador

A new sea shipping route linking southeast China's coastal city of Xiamen with Ecuador was launched on Friday.

The route will shorten the transportation time from Xiamen to the west coast of South America by at least seven days, enhancing maritime exchanges between China and the region.

The shipping service will run once a week, stopping at major ports in countries such as Colombia, Peru and Chile.

Iran's Central Bank Governor Abdolnaser Hemmati said on Monday that the first round of high-level talks between the U.S. and Iran in Switzerland had significantly advanced efforts to release frozen Iranian assets, while the U.S. side suggested the funds could be channeled toward American farm exports.

Hemmati told the country's semi-official Tasnim News Agency that "significant progress" had been made on the asset releases, with the relevant documents signed during the negotiations.

Referring to the unfreezing of the central bank's overseas assets as one of the most complex items on the agenda, the central bank chief said the funds will be phased into use in the coming days, in accordance with conditions and procedures established by the bank.

Regarding the export of oil and petroleum products, Hemmati said the two parties have agreed that the Office of Foreign Assets Control under the U.S. Treasury Department will be responsible for sanctions waivers for Iranian oil and petrochemical shipments.

After the U.S. and Iran held high-level talks at Switzerland's Burgenstock resort, U.S. Vice President JD Vance told reporters on Monday that if the U.S. agreed to unfreeze Iranian assets, the funds could be used to purchase American soybeans, corn and wheat.