Iran says MoU with US requires finalization by relevant authorities
Iran’s Mehr news agency has reported in the European trade on Friday that the draft with the United States (US) regarding the permanent peace deal needs finalization by relevant authorities. The agency has also reported key terms in the draft, which includes the reopening of the Strait of Hormuz, unfreezing Iran’s funds, and the lifting of the US naval blockade.
Additional information
The MoU with the US includes US commitment to lifting sanctions, withdrawing its forces from around Iran, and lifting the naval blockade.
The MoU with the US also includes reopening Strait of Hormuz, cancelling oil sanctions, and releasing Iran's frozen funds.
Final negotiations to focus on nuclear and economic issues, will exclude discussions about Iran's missile program.
Market reaction
The WTI Oil price has extended its losses, following these headlines. At press time, the WTI Oil price has extended the decline to near $82.80.
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