IRNA releases key terms under US-Iran MoU
Iran’s IRNA news agency releases the major terms of the Memorandum of Understanding (MoU) discussed with the United States (US). Earlier a report from Bloomberg showed that the MoU will be signed in Geneva on Sunday.
US-Iran key MoU terms
Iran makes no commitment regarding the transfer of management of the Strait of Hormuz.
The future administration of the Strait will be resolved as a regional matter through dialogue and joint decision-making between Tehran and Oman.
No agreement is made regarding the nuclear file in the current memorandum.
Nuclear talks will take place within a 60-day period after signing.
Market reaction
No major action in the Oil price after the release of the major US-Iran terms; however, it is already down on the US-Iran MoU hopes. At press time, the WTI Oil price trades 2.65% lower to near $83.00.
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