Iran’s state TV on Saturday released details of what it said was an unofficial draft of the Islamabad agreement, saying the text would give Tehran broad authority over traffic through the Strait of Hormuz and require the United States to provide Iran full access to $12 billion in frozen assets within 60 days.
The report said one of the most important parts of the draft is the “redefinition of navigation rules” in the Strait of Hormuz, with Iran designated as the “exclusive authority” to determine the nature of passing vessels.
Under the reported text, any vessel whose cargo is deemed threatening, or whose final beneficiary is considered hostile to Iran, “will not be recognized as a commercial ship” and would not be allowed to use designated routes.
Iranian state TV said the draft also gives Tehran authority over routes, navigation service fees, security arrangements and costs related to repairing environmental damage.
Each vessel would be required to provide information to a relevant naval center and complete forms detailing its cargo, ownership and destination, according to the report. The information would be used to assess whether a vessel poses a threat and could allow physical inspection if needed.
The report said the draft also includes a financial provision under which Washington would commit to giving Iran full access to $12 billion of its blocked assets within 60 days.
The funds would be “transferable and spendable” in destination banks chosen by Iran “without restrictions,” according to the unofficial text cited by Iranian state TV.
Iranian state TV said the text remains an “informal understanding” and is still subject to review, negotiation and revision.
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