Hormuz tolls, frozen funds pose early tests for US-Iran peace progress
Early cracks are beginning to show following last week’s US-Iran deal announcement even as both sides move ahead with steps toward ending the four-month conflict.
A new Iran-Oman statement on the future management of the Strait of Hormuz is offering an early glimpse of the sticking points that could complicate implementation of the fledgling US-Iran peace agreement.
On Tuesday, Tehran and Muscat announced plans to continue talks on the future administration of the strategic waterway amid efforts to reach an agreement that addresses “services” and the “costs associated” with managing Hormuz navigation. The language echoes provisions in the June 17 agreement between the United States and Iran, but references to services and costs may draw scrutiny in Washington and global energy markets, as they could be interpreted as referring to transit fees or other charges for using the corridor.
The issue could become an early test for negotiators confronting a broader reality: While the United States and Iran have begun implementing a deal aimed at ending the conflict and reopening Hormuz, difficult questions about how key arrangements will work in practice are already emerging, including disagreements about frozen Iranian funds.
What happened: Signs of both progress and friction have surfaced as the United States and Iran move to implement last week's interim agreement, which opened a 60-day negotiating window focused on Iran's nuclear program, sanctions relief and regional security issues.
