The United States will ease sanctions on Iranian oil and petrochemicalexports, Bloomberg reported on Wednesday, as Washington and Tehran move towardsigning a Memorandum of Understanding (MoU).
“Iran would only gain access to economic relief if it complies fullywith its obligations,” the official noted, adding that these commitmentsinclude preventing the development of nuclear weapons, reducing its stockpileof enriched uranium, and safeguarding freedom of navigation through the Straitof Hormuz.
“I hereby fully authorize the toll-free opening of the Strait of Hormuz,and, simultaneously herewith, authorize the immediate removal of the UnitedStates Naval blockade. Ships of the World, start your engines. Let the oilflow!” he posted.
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