Iranian Foreign Minister Abbas Araghchi announced on Friday a proposed agreement with the United States aimed at lifting the US blockade of Iranian ports and altering management of the Strait of Hormuz.
Speaking to state television, Araghchi stated that lifting the naval blockade was the primary condition of the deal. He stressed that this issue was the foremost point outlined in the agreement.
The minister added that Iran is determined to implement changes to the administration of the Strait of Hormuz, a vital maritime passage for global oil shipments. Discussions with Oman regarding its management are underway, given the strait’s strategic importance to the nation and its role as a deterrent during times of war, he said.
Araghchi revealed that the memorandum of understanding would be signed remotely once finalised, potentially within the coming days.
He explained that the agreement would first be signed digitally by both sides and then formally announced to the public as officially concluded. “This process could take place very soon. I am optimistic,” Araghchi concluded.
