Iran’s State TV says it has a draft of the initial unofficial framework for MoU with US; According to draft MoU US military forces will withdraw from vicinity of Iran and lift naval blockade; Islamabad framework not yet finalised

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[MARKET UPDATE] Risk-on move as Iranian State TV reports draft of the initial unofficial framework for MoU with US; Brent loses around $2/bbl, equities and fixed income bid, high-beta FX boosted

Iran’s State TV says it has a draft of the initial unofficial framework for MoU with US; According to draft MoU US military forces will withdraw from vicinity of Iran and lift naval blockade; Islamabad framework not yet finalised

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  • In return, Iran has committed to restoring the number of commercial transit ships through the Hormuz Strait to pre-war levels within one month
  • Military vessels are not included in this draft agreement.
  • Management and route of ship traffic via Hormuz to be handled by Iran in cooperation with Oman.
  • If a final deal is reached within 60 days, this agreement will be approved in the form of a binding UN Security Council Resolution.
  • No steps to be taken without "tangible verification".
  • Iran is committed to restoring the number of commercial transit ships through Hormuz to pre-war levels within one month.

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