Tehran.- Iran stated this Monday that the memorandum of understanding reached with the United States contemplates the release of frozen Iranian assets and the lifting of all sanctions against the Islamic Republic, while “guaranteeing” Tehran’s sovereignty over the Strait of Hormuz.
“As soon as the memorandum of understanding is signed, which is expected on Friday, these restrictions must disappear and Iran must be able to sell oil, petrochemical products, and petroleum derivatives without any obstacles or problems,” said Iranian Foreign Ministry spokesperson Ismail Bagaei at a press conference.
Bagaei stressed that access to “blocked or restricted Iranian assets, along with the reconstruction of the damages suffered, constitute two fundamental economic issues and that the US side commits to act in both areas” in the memorandum of understanding that the parties plan to sign on Friday in Switzerland.
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The diplomat also indicated that the United States “will be obliged” to lift all sanctions, both primary and secondary, allowing the sale of Iranian oil, its derivatives, and petrochemical products.
Bagaei also referred to the future of the Strait of Hormuz, after US President Donald Trump claimed on Sunday that the agreement will guarantee a “permanently toll-free” passage through that maritime route.
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The Iranian diplomatic spokesperson indicated that the memorandum attributes to Iran, in cooperation with Oman and in consultation with the other interested parties, the responsibility of ensuring safe navigation in the strait, and said that his country will charge for the services it provides in that area.
Bagaei insisted that Iranian sovereignty over the strait “remains fully preserved” and clarified that Tehran does not intend to impose tolls for the mere passage of ships, although it will charge for services provided by Iran and Oman, such as those related to navigation, environmental protection, and maritime insurance.
“For the services we will provide —navigation services, environmental protection, possible insurance for the vessels, and other services provided by Iran and Oman— the corresponding costs will be established and charged,” he stated.
The Strait of Hormuz, through which 20% of the world’s oil transited before the war, has remained closed by Iran since the start of the conflict on February 28, to which the U.S. responded in mid-April by imposing a blockade on Iranian ports and vessels.
