Iran Says It Reached Agreement on Strait of Hormuz Transit Mechanism, Sanctions Relief Also Made Progress

[Financial News] Iran's negotiating team spokesman said on the 21st (local time) that there had been "progress" in talks with the United States held in Switzerland.
On the 22nd, spokesman Esmaeil Baghaei told Iranian state broadcaster that Iran and the United States had agreed to establish a mechanism for the safe passage of ships through the Strait of Hormuz, calling it an important issue. He also said they discussed issuing permits needed for Iran's oil exports and lifting frozen funds, and that substantial progress had been made.
He added that "war must end on all fronts, including Lebanon," and explained that while the negotiating team had finished its work at this stage, a working-level team would continue discussions on matters needed for the effective implementation of the memorandum at a meeting with the mediating country scheduled for the following day.
He stressed that "these conditions must be implemented first before entering negotiations for a final agreement under Article 13 of the memorandum." Article 13 of the previous memorandum states that final negotiations will begin only after measures such as ending the war on all fronts, including Lebanon, lifting the U.S. naval blockade, reopening the Strait of Hormuz for Iran, granting export permits for Iranian crude oil and petrochemical products, and releasing Iran's frozen funds are carried out.
whywani@fnnews.com Hong Chaewan Reporter