Iranian media reveals contours of indefinite understanding on Hormuz and frozen funds

Tehran – Syrian News

Iran's chief negotiator, Mohammad Baqer Qalibaf, said on Sunday (May 31st) that his country will not accept any agreement to end the war with the United States unless the rights of the Iranian people are fully guaranteed.

After being sworn in after being re-elected as speaker of parliament, Ghalibaf said, "There is no confidence in the enemy's words and promises, and our only criterion is to achieve tangible results before we fulfill our commitments in return," a clear reference to Tehran's hardening in any future understandings.

Iranian media reveals features of indefinite understanding

On Saturday, Iranian television revealed the details of what it described as the "unofficial text" of the understanding being negotiated between Tehran and Washington through Pakistani mediation, noting that the document is still in the review stage and has not reached a final version.

According to Iranian media, the draft includes new security arrangements in the Strait of Hormuz, as well as mechanisms for the release of part of Iran's assets frozen abroad.

Tehran's Broad Powers in the Strait of Hormuz

The draft of the indefinitive understanding between Iran and the United States refers to a reformulation of the rules of navigation in the Strait of Hormuz, so that Iran becomes the exclusive authority in determining the nature of ships allowed to transit through the strategic waterway. The proposed wording stipulates that any vessel whose cargo is classified as a threat to Iran, or owned by a party that Tehran considers hostile, will not be treated as a commercial vessel and will not be allowed to use designated transit lanes.

The draft gives Iran a wide range of powers, including controlling maritime traffic routes, imposing fees for navigation services, providing security protection for ships, and addressing environmental damage caused by transit.

All vessels transiting are also required to provide detailed data about the cargo, ownership and final destination to the competent center of the Iranian navy, which will be used to assess the level of potential threat, with the possibility of subjecting ships to on-site inspections if necessary.

$12 billion in frozen assets in 60 days

On the economic front, the draft includes a U.S. pledge to give Iran full access to about $12 billion in frozen assets within a period of no more than 60 days.

According to Iranian television, the released funds will be transferable and spent without additional restrictions through banks designated by Tehran, in an effort to avoid obstacles faced by previous releases.

Hossein Ghorbanzadeh, a member of the economic negotiating team, confirmed that during the Doha talks, Tehran obtained guarantees related to the possibility of actually benefiting from the assets that will be released.

No final agreement yet

Despite the circulation of the details of the draft, Iranian television stressed that the document is still only an informal understanding, and has not turned into a final agreement due to ongoing negotiations and revisions.

Tasnim also quoted an informed source as saying that the final text of the framework agreement has not yet been completed, and that what some Western media outlets have published about the terms of the expected understanding lacks accuracy.

These developments come amid growing indications that a preliminary understanding between Tehran and Washington is imminent through Pakistani mediation, amid Iranian assurances that any future agreement must guarantee the Islamic Republic's strategic and economic interests.