US-Iran war: Could Strait of Hormuz open for shipping soon?
What's the story
Iran's state television has reported that Tehran has received a draft of an initial, unofficial framework for a memorandum of understanding (MoU) with the United States. The proposed framework seeks to end their ongoing conflict by restoring commercial shipping through the Strait of Hormuz and lifting a naval blockade. Under this agreement, Iran would restore commercial shipping through the strategic waterway to pre-war levels within a month.
Military withdrawal
US to withdraw military from Iran's vicinity
As part of the proposed deal, the US would withdraw its military forces from Iran's vicinity and lift a naval blockade. However, Iranian state TV has clarified that this framework is not yet finalized and Tehran will not take any action without "tangible verification." The plan also excludes military vessels and envisions Iran managing ship traffic through the strait in cooperation with Oman.
International approval
Binding UN Security Council resolution
If a final agreement is reached within 60 days, it could be approved as a binding United Nations Security Council resolution. The proposed MoU comes after indirect talks that began after the war started in February. Pakistan has been a key mediator between Tehran and Washington during these discussions. The conflict escalated earlier this year when Iran and Israel exchanged missile and drone attacks, disrupting shipping in the Gulf region.
Navigation assurance
Iran to halt transit fees for ships
The proposed deal includes Iran's commitment to reopen the Strait of Hormuz and allow free shipping and navigation through the waterway. Tehran would start efforts to clear mines from the strait within a 30-day window after an agreement is reached. This would allow vessels from all countries to navigate freely and safely, with Iran even halting transit fees for ships.
Additional measures
Ceasefire extension, nuclear program suspension
The proposed deal includes an extension of the ceasefire agreed upon in early April for another 60 days. Further, Iran's nuclear program would be suspended for two months as part of this agreement. Negotiations have been fast-tracked in recent days with both Washington and Tehran noting progress on sticking points but also acknowledging the gaps that have delayed the agreement.