US, Iran reach an agreement to gradually reopen Strait of Hormuz: Report
Earlier today, US President Donald Trump expressed hope for a deal with Iran, saying talks have been “very good” and that the war will “be over quickly”
US and Iran are said to have reached an agreement regarding easing of the American naval blockade in the Strait of Hormuz in exchange for a gradual reopening of the crucial waterway.
Sources told Al Arabiya that an understanding has been reached between both the sides. Iran had blocked the Strait at the start of the conflict, leading to disruption in global energy supplies.
“Agreements have been reached regarding easing the blockade in exchange for the gradual reopening of the Strait of Hormuz. The coming hours will witness the release of ships stuck in the strait,” sources told Al Arabiya.
Earlier today, US President Donald Trump expressed hope for a deal with Iran, saying talks have been “very good” and that the war will “be over quickly”.
The development comes after Tehran said it is evaluating a 14-point memorandum of understanding proposed by Washington aimed to ending the ongoing conflict.
Earlier, Reuters, citing a Pakistani source, had reported that US and Iran are nearing an agreement on a one-page memorandum aimed at ending the war, which began on February 28.
Among other provisions, Axios said the deal would involve Iran committing to a moratorium on nuclear enrichment, the US agreeing to lifting its sanctions and releaseing billions of dollars in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.
On Thursday, Asian shares jumped with Tokyo’s Nikkei 225 gaining 5.7 per cent to a record intraday high as investors waited to see if the US and Iran will strike a deal allowing tankers to deliver crude from the Persian Gulf again.
(With inputs from agencies)
Source : Moneycontrol