Frozen Iranian assets will be released after a memorandum of understanding between the United States and Iran is signed, Iranian Foreign Minister Abbas Araghchi said here on Friday.
“Iran’s frozen assets will be released under the memorandum, which is to be signed. Regarding compensation, the deal provides for an economic plan for Iran,” Araghchi told the IRIB broadcaster.
This plan will unblock significant financial resources for the country, the foreign minister added.
The top Iranian diplomat warned that opponents of the agreement led by Israel were trying to torpedo its signing.
On Friday, Araghchi said that Tehran and Washington had never been closer to reaching a memorandum as they are now, while Pakistani Prime Minister Shehbaz Sharif announced that the final text of a peace deal had been agreed upon.
Earlier, Araghchi said the proposed memorandum of understanding (MoU) is designed to consolidate what Tehran views as gains achieved during the recent conflict with the United States and Israel.
He described diplomacy as a means of securing those gains through a formal agreement. According to Araghchi, the first element of the proposed deal concerns the lifting of what Iran calls an “illegal naval blockade” imposed by the United States, the state media reported.
He said Iran and Oman are working on a joint legal and operational mechanism to regulate transit through the Strait of Hormuz, a critical route for global oil and liquefied natural gas shipments.
The framework is expected to be announced within 60 days, while Iranian armed forces would continue to be responsible for security in the waterway.
