US-Iran towards ceasefire, way cleared for opening of Hormuz and removal of US Naval Blockade, MoU documents released

New Delhi: A major diplomatic breakthrough has emerged between America and Iran regarding the Middle East crisis. The two countries have released details of the Memorandum of Understanding, paving the way for a halt to military actions and starting negotiations for a final agreement.

Agreed on removing Naval Blockade

According to reports, under the MoU, America will agree to remove its naval blockade. In return, Iran will ensure safe and unhindered movement of commercial vessels in the Strait of Hormuz.

Important decision for Global Oil Market

The Strait of Hormuz is a very important waterway for the world’s energy trade. Its closure was expected to cause huge turmoil in the global oil market. In such a situation, this agreement is being considered as a big relief for Gulf shipping and oil market.

60 day negotiation framework

A framework of about 60 days of negotiations has been kept in the MoU for the final agreement. During this period, both sides will work to stop military action, avoid new sanctions and maintain regional stability.

No final peace deal yet

This agreement is not yet the final peace deal, but it is being considered a major diplomatic breakthrough amid the US-Iran conflict. If this is implemented, it will have a major impact on Middle East security, Gulf shipping and the global oil market.