It seems like the US and Iran are finally seeing a glimmer of hope for reconciliation.
According to a report by CCTV News, US President Trump announced on May 23 that a deal between the US and Iran has been basically reached, with the final details to be released soon, and the Strait of Hormuz will be opened.
Trump stated that the agreement is pending finalization by the US, Iran, and other relevant Islamic countries. He also had a phone call with Israeli Prime Minister Netanyahu. The final stages and details of the agreement are currently being discussed.
US Secretary of State Rubio confirmed on the same day that the negotiations are “making progress.” The Iranian side stated that the two parties are in the final stages of reaching a memorandum of understanding, but emphasized that the current stage does not involve nuclear issues, only focusing on ending the war.
Pakistan, the mediator, has helped the two sides reach a temporary agreement. However, Israel is concerned that the terms are “very unfavorable” to them, and Prime Minister Netanyahu has urgently convened a meeting to discuss countermeasures. Iranian President Pezeshkian accused Israel of trying to profit from the war.
On May 24, the Iranian side released a statement saying that Trump’s remarks about the “opening of the Strait of Hormuz” were incomplete and not in line with the facts.
According to the latest exchanged text, even if an agreement is reached, the Strait of Hormuz will continue to be “managed” by Iran. Moreover, although Iran has agreed to allow the number of ships passing through the Strait of Hormuz to return to pre-war levels, it does not mean that the strait will return to its pre-war “free passage” status.
The Iranian side emphasized that the management, route planning, ship passage times and methods, and licensing rights of the Strait of Hormuz will still be fully controlled by Iran.
The Iranian government established a new agency, the “Persian Gulf Strait Management Bureau,” on the 18th, and a social media account with the same name was launched simultaneously. The account claims to be an official account and will provide real-time updates on the latest developments in the Strait of Hormuz. Analysts point out that the formal announcement of this agency marks the beginning of Iran’s institutionalized control over the strait.
The Strait of Hormuz is located between Iran and Oman and is the only sea route connecting the Persian Gulf to the Indian Ocean. Although its main deep-water navigation area is almost entirely within Oman’s territorial waters, Iran has complete control over it.
Previous reports revealed that the core regulations of the “Persian Gulf Strait Management Bureau” may also include maintaining Iran’s and its armed forces’ dominant position; all civilian and commercial ships passing through the strait must submit detailed information about the shipowner, crew nationality, cargo details, and route in advance.
In the eyes of Iran’s top leaders, the Strait of Hormuz is a trump card that is even more powerful than nuclear weapons. Last week, Iranian Foreign Minister Araghchi publicly stated at a press conference in New Delhi that Iran does not seek to develop nuclear weapons.
Earlier this month, the Iranian Islamic Revolutionary Guard Corps Navy announced the new range of the Strait of Hormuz under its jurisdiction, drawing a new route from Hormuz Island to the south to Larak Island to the south. This route is called the “Larak Corridor” and cannot be passed without permission from the Revolutionary Guard Corps Navy.
The US intelligence community has recently warned that the Strait of Hormuz is the only chip in Iran’s hands that can counterbalance the US. Even after the war ends, Iran needs to collect tolls to rebuild.
Al-Arabiya TV recently quoted a source as saying that Iran has submitted two proposals to the Pakistani mediator, proposing to open the Strait of Hormuz in exchange for US compensation and demanding that sanctions and frozen funds be discussed before signing any agreement.
Al-Arabiya TV also quoted a source as saying that the US has conveyed a message to Iran, guaranteeing that “if Iran agrees to reach an agreement, disputed issues can be resolved later.” If Iran refuses the agreement, it will face “negative consequences.”
Xinhua News Agency quoted Saudi media on May 22 as saying that the US and Iran are “close to reaching” a draft agreement, which includes an immediate, comprehensive, and unconditional ceasefire on all fronts.
Specifically, the draft agreement includes commitments not to attack military, civilian, or economic infrastructure; to stop military actions and media wars; to respect sovereignty and territorial integrity and not interfere in internal affairs; to ensure freedom of navigation in the Gulf, the Strait of Hormuz, and the Oman Sea; and to establish a joint supervision and conflict resolution mechanism.
Earlier this week, Iranian Foreign Ministry Spokesman Baghaei stated that the current focus of the negotiations is to end the war on all fronts, including Lebanon, and that media reports about nuclear issues, including uranium enrichment or uranium debates, are just speculation. Accurate information about the negotiation details will be provided by authorized officials and negotiation team spokespersons.
Trump has demanded that Iran hand over its highly enriched uranium, which the US will likely destroy. He has repeatedly threatened Iran to hand over the uranium and revealed that the US Space Force has been monitoring the buried Iranian uranium. Iran’s Supreme Leader Muhajtaba Khamenei has issued an order that the country’s uranium stockpile cannot be transported abroad.
Multiple sources close to the US-Iran negotiation team said that the US has agreed in the latest negotiation proposal to unfreeze a quarter of Iran’s funds stored in foreign banks during the negotiations, but Iran wants all its assets to be unfrozen.
