Iranian state TV has illustrated the latest draft of the memorandum of understanding between Washington and Tehran. According to the text, reported by the international media, the US withdraws military forces near Iranian territory and lifts the naval blockade on Iranian ports, and in exchange Tehran undertakes to restore commercial traffic in the Strait of Hormuz to pre-war levels within a month. The transit of the ships will be managed in collaboration with Oman.
The “Islamabad Memorandum”, this is the name of the document, states that, if a definitive agreement is reached within 60 days, the agreement must be approved as a binding resolution by the UN Security Council.
Regarding the draft agreement between Washington and Tehran to end the war, Iranian state television described the ‘Islamabad Memorandum’ as “not yet final” and stated that the Islamic Republic “will not take any action without concrete verification” of what is contained in the document.
Oil drops sharply below $90
The prospect of the agreement is already reflected in the markets. Oil is falling sharply in the hope of an agreement between Iran and the United States: WTI prices in New York lose 5% to around 89 dollars a barrel, falling below the threshold of 90 dollars.