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Hormuz closed until US delivers on MoU pledges: Iran

  • : Crude oil, Fertilizers, Freight, LPG, Natural gas, Oil products
  • 26/08/18

Iran will keep the strait of Hormuz closed until the US fulfils commitments made under the now-expired ceasefire agreement signed in June, parliament speaker Mohammad Bagher Ghalibaf said on Tuesday.

The memorandum of understanding (MoU), signed on 18 June, set a 60-day deadline to negotiate an end to the war, reach a deal on Iran's nuclear program and ensure safe passage through Hormuz. The agreement included provisions for the US to begin easing economic and sanctions pressure on Iran.

The deadline expired on Monday.

The MoU collapsed in mid-July after weeks of disputes over control and administration of the strait, during which Iran targeted several vessels and the US reinstated its naval blockade.

"As we predicted, the enemy, who accepted the memorandum to end the war out of desperation, soon reneged on its commitments in order to compensate for its heavy political defeat," said Ghalibaf, who has led the Iranian negotiating team.

Hostilities in the region have subsided after an intensification in the weeks after the MoU's collapse, but Iran has continued attacks on shipping, restricting vessel transits through Hormuz. Only 12 vessels crossed the strait on 16 August, eight inbound and four outbound, according to maritime security firm Windward, compared with well over 100 daily crossings before the war began in late February.

Ghalibaf said the strait "will not reopen until the US commitments in the memorandum, including lifting the blockade, releasing the frozen assets, lifting the oil embargo, ending the threats and military operations on all fronts, and other conditions that the US committed to."


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