Tehran: Iranian President Masoud Pezeshkian announced that Tehran and Oman have reached an agreement on a passage route through the Strait of Hormuz. The strategic waterway will be reopened if the United States fulfills its commitments under the Islamabad Memorandum signed in June.
According to Anadolu Agency, Pezeshkian stated that the passage route agreement has been communicated to Iran's supreme leader. He emphasized that the reopening of the strait is contingent upon the US lifting sanctions and blockades, releasing assets, initiating investment, and ending the conflict in Lebanon. Pezeshkian noted that the US has shown willingness to return to the memorandum of understanding.
The Iranian president highlighted that Iran's Supreme National Security Council had reached a consensus on the agreement, with 12 out of 13 members supporting it. He described this consensus as a significant achievement for Iran. Under the memorandum, initial steps included lifting sanctions and blockades, with discussions on releasing frozen Iranian funds and plans for $300 billion in investment.
Pezeshkian reported a decline in Iran's imports and exports by 25% to 35%, despite the temporary removal of banking and petrochemical sanctions under the memorandum. During this period, Iran exported nearly 90 million barrels of oil. He also mentioned ongoing discussions with Qatar and the United Arab Emirates regarding planned investments, which remain stalled due to ongoing conflict.
The president pointed out that Iran is working to restore the Strait of Hormuz to its former status, but the memorandum collapsed due to non-compliance. Talks between Iran and Oman continue as they seek a resolution to manage shipping through the waterway after the previous agreement with the US fell apart.
Pezeshkian addressed Iran's domestic energy challenges, likening current conditions to wartime, with blocked routes and declining state revenues while still needing to secure gasoline. He clarified that no decision has been made on increasing gasoline prices, and any proposed changes would require consultations with the judiciary and parliament.
In response to energy pressures, Pezeshkian advocated for increased public transportation use and outlined government considerations for remote work, expanded public transportation, and higher vehicle-efficiency standards to reduce fuel consumption without burdening the public.