Iran: Araghchi says draft deal covers Strait of Hormuz, Lebanon conflict

According to IRIB, Araghchi said the agreement consists of two stages and that the nuclear issue was not discussed in the first stage and was deferred to the second phase.

He added that if the provisions of the memorandum of understanding are not met, the final agreement will not be signed.

"The first thing mentioned in the agreement is that the US naval blockade be lifted," Araghchi said.

"According to international law, not possible to collect tolls from the Strait of Hormuz, but service fees will be collected. Paying compensation to Iran is in plan," IRIB quoted the Iranian Foreign Minister as saying.

Araghchi further stated that the Strait of Hormuz remains under the sovereignty of Iran and Oman, adding that "the future of the Strait of Hormuz will not be like the past", and indicated that Iran and Oman would soon issue a joint statement on its management.

On the nuclear issue, he said, "At this stage, we did not discuss nuclear issues. However, in any case, our position regarding enriched materials is that if dilution is to take place, it will happen inside Iran, NOT in another country."

Araghchi further stated, "The text of the initial memorandum of understanding consists of 2 pages. None of Iran's frozen assets can remain frozen according to the memorandum of understanding."

The memorandum would also address other key sources of friction in the Washington-Tehran relationship, including a written assurance from the United States affirming that it "respects Iran's sovereignty," according to the foreign minister.

He also stated, "We will never leave Hezbollah in Lebanon alone, and the end of the war in Lebanon will include all fronts."

This comes after Araghchi said that the "Islamabad Memorandum of Understanding has never been closer", indicating that it was nearing finalisation. (ANI)