Iran ready to reopen Hormuz if US honours MoU: Pezeshkian

Iranian President Masoud Pezeshkian has said that Tehran had agreed with Oman on a route for shipping through the Strait of Hormuz and would reopen the strategic waterway if the United States fulfils its commitments under the Islamabad Memorandum, Iranian media said. “We agreed with Oman on the passage route through Hormuz, and if the US fulfils its commitments under the memorandum of understanding, we will open the strait, ” Pezeshkian said, according to Iran’s official IRNA news agency. He said the proposed route had also been communicated to Iran’s Supreme Leader and that Tehran was following up on the arrangement. Pezeshkian said the US would need to lift sanctions and the blockade, release frozen Iranian assets, begin investment and end the war in Lebanon as part of its commitments. “As far as the talks have progressed, they also accept that we must return to the memorandum of understanding, ” he said. The Iranian president said the country’s Supreme National Security Council had reached an “exceptional” consensus on the agreement, with 12 of its 13 members voting in favour. According to Pezeshkian, sanctions and the blockade were initially lifted under the memorandum, while negotiations began over the release of frozen Iranian funds and plans were drawn up for $300 billion in investment. He said Iran’s imports and exports had subsequently declined by between 25% and 35%. Pezeshkian also claimed that banking and petrochemical sanctions had been lifted under the memorandum and that Iran exported nearly 90 million barrels of oil while the agreement remained in effect. He said Tehran had held talks with Qatar and the United Arab Emirates over proposed investment projects but warned that the plans could not move forward while the war continued. Pezeshkian said Iran was working to restore the Strait of Hormuz to its previous status but accused the US of failing to honour its commitments. “Because they did not comply, the memorandum of understanding collapsed, ” he said. State of war Pezeshkian also said Iran was facing severe domestic energy pressures as a result of the conflict, with transport routes disrupted, imports restricted and government revenues declining. “We are in a state of war. First, we must understand that we are at war. The route is currently blocked, and goods are not entering. Gasoline is one of those goods, ” he said. He said the government had not yet decided when or by how much it would raise petrol prices, rejecting reports that the price could rise to 50, 000 tomans. Pezeshkian said the only proposal currently under consideration involved introducing a third pricing tier for fuel consumed beyond the regular quota, with a proposed price of around 10, 000 tomans ($0. 05). He added that any change would require consultations with Iran’s judiciary and parliament. The president also urged Iranians to make greater use of public transport to reduce fuel consumption. He said the government was considering measures including remote working, expanding public transportation, raising vehicle-efficiency standards and shifting taxis and motorcycles to electric power. “Our infrastructure, including power plants and oil and gas resources, has been targeted, and energy production has declined, ” Pezeshkian said.

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