Sahin Demir
31 May 2026•Update: 31 May 2026
- Proposed framework includes access to $12B in frozen Iranian assets within 60 days
- Iranian negotiator says Qatar talks focused on guarantees against future asset freezesIranian state media reported Saturday that a draft informal memorandum of understanding between Tehran and Washington includes provisions on navigation through the Strait of Hormuz and the release of Iranian assets frozen abroad.
Iran’s state broadcaster, IRIB, said the unofficial text of the so-called Islamabad understanding, which has not been finalized, sheds light on proposed security arrangements in the Strait of Hormuz and mechanisms related to frozen Iranian funds.
Strait of Hormuz provisions
The reported draft would grant Iran exclusive authority to determine the status of vessels transiting the Strait of Hormuz. Any vessel whose cargo or ultimate beneficiary is deemed hostile to Iran would not be classified as a commercial vessel and could be denied access to designated shipping routes.
The framework would also reportedly give Iran authority over shipping lanes, navigation service fees, security arrangements and compensation related to environmental damage.
It said vessels would be required to provide detailed information, including cargo manifests, ownership records and destination data, to Iranian authorities, which would use the information to determine whether a vessel qualifies as commercial traffic.
Frozen assets and guarantees
Another key component of the draft concerns the release of Iranian assets frozen abroad.
Under the proposed arrangement, the US would enable Iran to gain access to $12 billion in frozen funds within 60 days. The assets would reportedly be transferable and usable through banks designated by Iran without restrictions.
Separately, Hossein Ghorbanzadeh, a member of Iran’s economic negotiating team, said discussions during a recent visit to Qatar focused heavily on ensuring that any released funds could not be frozen again.
Ghorbanzadeh said on Iranian state television that negotiators spent hours discussing technical and financial mechanisms designed to guarantee continued access to the funds.
“The most important issue was how we can be sure that once these assets are unfrozen, they will not be frozen again through another directive,” he said.
Ghorbanzadeh said Iranian negotiators concluded that the proposed arrangement differs from previous asset-release mechanisms and includes safeguards aimed at ensuring continued access to the funds over time.
A high-level Iranian delegation led by Parliament Speaker Mohammad Bagher Qalibaf visited Doha earlier this week as part of Pakistani-led diplomatic efforts aimed at ending the conflict between Tehran and Washington.
Iran has demanded the release of $12 billion in frozen assets under a potential agreement with the US and insists that another $12 billion be transferred within 60 days of the signing of a deal, according to Iran’s semi-official Tasnim News Agency.
Tensions in the Middle East have escalated since the US and Israel launched strikes against Iran in late February. Tehran retaliated with attacks targeting Israel and US allies in the Gulf while closing the Strait of Hormuz.
A ceasefire took effect April 8 through Pakistani mediation, but subsequent talks in Islamabad failed to produce a lasting agreement. US President Donald Trump later extended the truce indefinitely.
Iran and the US have since continued exchanging proposals and counterproposals in an effort to resume direct talks and end the war. US officials have said a proposed framework could include a 60-day extension of the ceasefire and a roadmap for further negotiations.
