Shehbaz Sharif announced that the United States and Iran have negotiated the final text of a peace agreement. Islamabad is working with both sides on the next steps, Sharif said. The announcement comes amid weeks of indirect talks that Pakistan has mediated.
However, Iran’s official Islamic Republic News Agency (IRNA) dampened expectations. It warned against media reports about a potential memorandum of understanding and made clear: Iran will not give up control over the strategically vital Strait of Hormuz. The United States will have no role in the future management of the waterway, Tehran said.
According to IRNA, the text only covers the normalization of transit through the Strait of Hormuz after the war ends, maritime security by coastal states, the end of the illegal blockade, and the removal of threats to commercial shipping by the United States and Israel. The future administration of the waterway is to be based on an Iranian initiative and resolved in talks with Oman.
The Strait of Hormuz is one of the world’s most important oil trade routes. Since the start of the war between Iran and the United States, repeated attacks on commercial vessels have disrupted shipping. An agreement could calm global oil markets, but remains fragile given the opposing positions.
Source: www.theguardian.com
