Shafaq News- Washington
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).
Citing US officials, the outlet stated that the US Treasury Departmentis expected to issue exemptions immediately after the formal signing on June19. The outline of the emerging agreement has already been shared with USallied countries during the ongoing G7 summit in France. While some detailshave been circulated, technical teams continue working on implementationmechanisms, indicating that the final text could still change before officialapproval.
“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.
Last week, Pakistan’s Prime Minister Shehbaz Sharif said a US-Iranagreement had been reached, ending military operations across all fronts,including in Lebanon. US President Donald Trump later confirmed the developmenton Truth Social, writing that “the Deal with the Islamic Republic of Iran isnow complete.”
“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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