HomeAUIran Unveils Game-Changing Draft Deal to Resolve Global Oil Shortage

Iran Unveils Game-Changing Draft Deal to Resolve Global Oil Shortage

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Iran‘s state TV says it has obtained a draft of an initial, unofficial framework for a memorandum of understanding with the US on ending their conflict.

Under a new proposed agreement, Iran aims to resume commercial shipping activity in the Strait of Hormuz to its pre-conflict status within a month. In exchange, the United States would agree to withdraw its military forces from the region around Iran and lift the naval blockade currently in place.

According to state television, the proposed framework, which excludes military ships and anticipates Iran managing maritime traffic in collaboration with Oman, remains in the negotiation phase. Tehran has indicated that no actions will be undertaken until there is “tangible verification” of the terms.

Under the framework, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within a month. (Getty)

If negotiations are successful and a final deal is reached within 60 days, the agreement could potentially be enacted as a binding resolution by the United Nations Security Council.

This Memorandum of Understanding (MoU) between the US and Iran arises from indirect discussions that began following the conflict which started in February. Pakistan has been instrumental in mediating the dialogue between Tehran and Washington.

The conflict was sparked by heightened tensions between Iran and Israel earlier this year, marked by exchanges of missile and drone attacks that disrupted Gulf shipping lanes. The situation led to U.S. military involvement, heightening concerns over a broader regional conflict.

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