Iran says joint statement with Oman on Hormuz to be released soon

Iranian Foreign Minister Abbas Araghchi announced on Friday evening (12) that a joint statement with Oman on future control of the Strait of Hormuz should be released "soon".

Araghchi told Iranian state television that the statement would be released jointly with the Omani government, according to the semi-official ISNA news agency. The Strait of Hormuz is situated between the territory of both nations.

The comments come amid rumors that a supposed agreement between the US and Iran is being finalized, with its signature expected in the coming days.

American officials highlighted several points in the memorandum of understanding, including the full reopening of the strait and the lifting of the American blockade of Iranian ports along the strait.

Agreement addresses Strait of Hormuz
Araghchi said the memorandum will address several issues, including the regime's nuclear program, sanctions relief and the blockade of the Strait of Hormuz.

The agreement, which has not yet been signed, includes a resolution to the conflict in Lebanon "and on all other fronts", Araghchi told Iranian state television.

The memo will also address other sources of tension in the relationship between Washington and Tehran, including a written statement from the US saying it "respects Iran's sovereignty", the foreign minister said.

Understand the points of the agreement
A United States government official detailed several points of the agreement being negotiated with Iran, presenting the document as capable of meeting President Donald Trump's objectives in the negotiations.

Among the points of the draft agreement are:

- The reopening of the Strait of Hormuz and the end of the US blockade of Iranian ports.
- The dismantling of Iran's nuclear program, including the transfer to the United States of Iran's enriched material, which, according to the official, would be destroyed on site and then removed from the country.
- Iran would be "relieved of much of the economic pressures to which it has been subjected for many, many years" if it complies with the provisions of the agreement. "These benefits will only be granted if they actually fulfill what was agreed," said the official.

Why is the Strait of Hormuz so important to the world economy?

Source: CNN