Iran says finalizing memorandum of understanding with US

• Progress reported on some issues, but 'major disagreements' remain over release of frozen Iranian assets, Strait of Hormuz, reports Iran’s Tasnim news agency

Iran is focused on finalizing a memorandum of understanding with the US aimed at ending the ongoing conflict, Foreign Ministry spokesman Esmaeil Baghaei said Saturday, while insisting that the issue of the Strait of Hormuz is unrelated to Washington.

“Our approach has been to draft a 14-point memorandum of understanding that includes the most important issues necessary for ending the war and matters that are fundamental for us,” Baghaei said, reported the Iranian Fars news agency.

“We are in the final stage of finalizing this memorandum of understanding,” he added.

According to Baghaei, the key points of the proposed memorandum include ending the war, ending the US naval blockade, and the release of Iran’s frozen assets.

Baghaei also highlighted that Tehran and Washington “have not yet reached a joint timeline for an understanding.”

The two sides are currently working to finalize the agreement, after which a 30- to 60-day implementation timeline would begin, according to the memorandum.​​​​​​​

On the Strait of Hormuz, Baghaei added: “The issue of the Strait of Hormuz has nothing to do with the United States.”

“Regarding the strait, a mechanism must be defined between us and Oman, and we have held several rounds of talks with the Omani side on this matter,” he said.

Baghaei also stressed that Iran is “not negotiating the nuclear issue at this stage,” saying the current focus remains on ending the war.

****Indirect exchanges between the two sides are still ongoing, with progress reported on some issues but “major disagreements” remaining over the release of frozen Iranian assets and the Strait of Hormuz, according to Iran’s semi-official Tasnim news agency.

US Secretary of State Marco Rubio said that “some progress (was) made” in peace talks with Iran.

The US and Iran have been negotiating proposals and counterproposals through Islamabad to reopen the Strait of Hormuz, as well as tackle concerns over Tehran’s nuclear program and its demand for sanctions relief.

US President Donald Trump on Monday said the US postponed renewing attacks on Iran after requests from Gulf leaders, and that serious negotiations were underway.