Iran Says End to US Maritime Blockade, Sanctions Relief Are in Talks Framework

Iran said an end to the US maritime blockade and sanctions relief are included in the framework for negotiations with Washington. It also said the nuclear issue is not part of the initial agenda.

Walter Bloomberg reported on May 23 that Iran described the negotiating framework with the US as including an end to the US maritime blockade and sanctions relief. It added that “the nuclear issue is not part of the initial framework.”

Iran is seeking first to roll back US maritime control measures around the Strait of Hormuz and its own ports. The US, meanwhile, is pressing for limits on Iran’s nuclear program and tighter controls on uranium enrichment.

Markets are assessing the possibility that the US and Iran are discussing a phased structure for negotiations. Under that approach, the two sides would first address a ceasefire, the normalization of maritime transport and sanctions issues before turning to the nuclear program.

The outcome of US-Iran negotiations could influence global financial markets, including international oil prices and dollar moves. Still, a final agreement in the near term remains uncertain, with the two sides still far apart on Iran’s nuclear program and the Strait of Hormuz.