US and Iran to sign Strait of Hormuz peace framework on Friday
Tehran says a memorandum of understanding will end fighting on all fronts and reopen the world’s most important oil chokepoint.
Iran and the United States have reached a memorandum of understanding to end fighting on all fronts, officials in Tehran said, in a preliminary deal that paves the way for the reopening of the Strait of Hormuz after more than three months of disruption.
A chokepoint reopens
Roughly a fifth of the world’s seaborne oil passes through the strait, and its effective closure since late February has rattled energy markets and supply chains far beyond the Gulf. Washington said it would lift its naval blockade as flows resume.
The framework, expected to be signed on Friday in Switzerland, also extends a ceasefire in Lebanon and opens a narrow window for talks on Iran’s nuclear programme and the lifting of US sanctions. Analysts cautioned that the hardest questions have been deferred, not resolved.
Nimal has covered Sri Lankan politics for over fifteen years, from parliament to the provinces.
