Hormuz condition, safety of ships, frozen funds: 5 key demands from Iran to agree on deal with US | World

Iranian Foreign Minister Abbas Araghchi has offered the most detailed look yet at a proposed agreement between Iran and the United States that he says could be finalized within days. Speaking about what has become known as the “Islamabad Memorandum of Understanding,” Araghchi said the framework agreement would end the current conflict, pave the way for future negotiations and address issues ranging from maritime security to sanctions relief.

While emphasising that no final deal has been signed, the Iranian foreign minister outlined several key provisions that he said would form the basis of the agreement.

Key takeaways about US-Iran deal draft 

What is the draft about

Araghchi said the proposed memorandum of understanding represents only the first phase of a broader diplomatic process, with negotiations on Iran’s nuclear program deferred to a second stage.

“What I should mention is that these negotiations, which will lead to the end of the war, proceed in two stages,” he said. According to Araghchi, issues where agreement was possible were included in the first-stage memorandum, while more difficult nuclear talks were postponed to a later phase expected to last 60 days.

“We postponed the nuclear issue to the final agreement stage for various reasons, among them that, under the present circumstances, meaningful discussion of it was not possible,” he said.

His remarks suggest that progress on the nuclear file will depend on the successful implementation of the initial agreement.

Hormuz will not be the same

One of Araghchi’s clearest messages was that the Strait of Hormuz will not simply revert to its pre-conflict arrangements. The strategically important waterway, through which a significant share of the world’s oil shipments pass, has been at the center of tensions throughout the war.

“There is also the issue of the Strait of Hormuz, with its details; the removal of maritime restrictions,” he said while outlining the memorandum’s provisions.

His comments indicate that a new framework governing maritime traffic and security in the strait could emerge as part of the agreement.

 Iran says sovereignty over Hormuz must be respected

Araghchi repeatedly stressed sovereignty as a key pillar of the proposed agreement.

“I believe this is the first time that, after forty-seven years, the United States has explicitly expressed respect for the sovereignty of the Islamic Republic of Iran, and mentions this and puts it in writing,” he said.

According to Araghchi, the deal would require both countries to refrain from interfering in each other’s internal affairs.

“It commits itself not to interfere in Iran’s internal affairs, and asks us to commit ourselves not to interfere in its internal affairs. This is entirely on the basis of equality,” he said.

Iran’s guarantee on safe passage through Hormuz

Araghchi indicated that Tehran is prepared to play a direct role in ensuring maritime security after any agreement takes effect.

Iran would help secure safe passage for vessels transiting the Strait of Hormuz as part of arrangements linked to ending the conflict and lifting maritime restrictions, he said.

Release of frozen Iranian funds

Another major component of the proposed agreement involves Iran’s blocked overseas assets.

“There is also the issue of Iran’s blocked funds, for which a mechanism has been specified,” Araghchi said.

The release of frozen funds has long been a key demand for Tehran and is expected to form part of broader discussions on sanctions relief and economic reconstruction.

Araghchi added that reconstruction and development measures would also be included in subsequent negotiations.

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