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Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release

Iran has revealed that a proposed memorandum of understanding with the United States includes a waiver of oil sanctions, limits on Iran's nuclear programme, and the release of billions of dollars in frozen Iranian assets. A senior Iranian source told Reuters on Friday that the draft deal would waive sanctions on Iran's oil exports, unfreeze billions of dollars of its funds, and impose restrictions on Iran's nuclear programme. The agreement also includes a commitment from Iran to never develop nuclear weapons. According to the source, the United States would lift its blockade on Iranian ports and issue targeted sanctions waivers to facilitate unrestricted Iranian oil sales during the negotiation period. The US proposal includes a temporary waiver of oil sanctions effective until a final agreement is reached, rather than Iran's demand for permanent lifting of all sanctions. The draft MOU […]

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US Treasury Sanctions Iran Authorities Overseeing Strait of Hormuz

The United States Treasury has announced new sanctions against Iran’s Persian Gulf Strait Authority, the body created by Tehran to oversee and charge tolls on ships transiting the Strait of Hormuz. The Persian Gulf Strait Authority, launched on May 18, is responsible for approving vessel passage and collecting fees reportedly as high as $2 million per ship, forming part of Iran’s bid to consolidate control over the strategic waterway. The Strait of Hormuz handles a significant share of global oil and gas shipments, and Iran has been enforcing a multi-tiered clearance system for vessels using checkpoints on islands in the Gulf. Under the new measures, the Persian Gulf Strait Authority has been added to the US Specially Designated Nationals (SDN) list, meaning any assets it holds under US jurisdiction are frozen and US persons are barred from dealings with it. […]

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