Araghchi: Oil Sanctions Suspended, Some Iranian Assets Released
Iranian Foreign Minister Abbas Araghchi announced that sanctions on Iran’s oil and petrochemical exports have been suspended and the maritime blockade has been lifted.
In a post on his X account, Araghchi also said that some of Iran’s frozen assets have been released, and that a major plan for the country’s reconstruction and economic development has been launched.
He thanked Pakistan and Qatar for their mediation efforts, saying the negotiations had led to major progress toward ending the war in Lebanon.
Araghchi was referring to the first, tenth, and eleventh articles of the Iran–U.S. memorandum of understanding, which form the basis for negotiations and a final agreement.
According to Article One, Iran, the United States, and their allies will declare an immediate and permanent end to military operations on all fronts, including Lebanon.
Under Article Ten, Washington will issue the necessary waivers and licenses for Iran’s oil and petroleum exports, related banking transactions, and shipping services.
Article Eleven concerns the release of Iran’s frozen assets, one of the key issues in the negotiations.
Araghchi is currently in Switzerland for talks.
