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Strait of Hormuz crisis Geopolitics Tankers and Gas

Iran and US to begin immediate demilitarisation of Hormuz after MOU signed

  • US senior officials read out the terms and conditions of the MOU signed by the US and Iran
  • The US will begin lifting its blockade within 30 days, ending “disturbances or impediments” against Iran
  • Iran will lift tolls for 60 days from the MOU signing, including a 30-day period for demining and removing Iranian military obstacles, with further discussions to take place 
  • The US will also look to terminate primary and secondary sanctions against Iran, unfreeze Iranian assets and issue waivers for Iranian crude oil exports

  • News

Freedom of navigation in the Strait of Hormuz edges closer to restoration, with a final deal slated to be signed in 60 days. But questions linger over possible tolls, as Iran prepares to discuss maritime services around the strait

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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