Key facts
- The US and Iran have reached a draft interim deal to end conflict and reopen the Strait of Hormuz.
- The deal reportedly includes nuclear limits, sanctions relief, and the release of frozen Iranian assets.
- Details on the amount of frozen assets to be released vary, with figures ranging from $12 billion to $25 billion.
- The US insists on a 'payment for performance' principle for asset release, while Iran claims waivers are included.
- A signing ceremony was tentatively announced for Friday in Switzerland.
- The deal aims to ease oil supply risks and stabilize global energy markets.
The United States and Iran have reportedly reached a draft interim deal aimed at ending hostilities and reopening the Strait of Hormuz. The agreement, mediated by Pakistan, includes provisions for nuclear limits, sanctions relief, and the release of frozen Iranian assets. A signing ceremony is tentatively scheduled for Friday in Switzerland, though details regarding the exact amount of frozen assets and the timeline for their release remain points of contention.
Iranian state media has detailed a 14-point agreement, suggesting the release of up to $25 billion in frozen assets and waivers on oil sanctions. However, U.S. officials have stressed a 'payment for performance' principle, indicating that funds will only be released upon Iran's fulfillment of its commitments. The deal also proposes a 60-day period for negotiations on more complex issues, including Iran's nuclear program and broader U.S. sanctions.
Beyond the Strait of Hormuz, the agreement also addresses military operations in Lebanon, with both sides declaring an immediate and permanent end to all military activities in the region. Israel's Defense Minister, however, indicated that Israeli forces would remain in captured security zones.