Iranian media have published new details of a draft informal understanding between Tehran and Washington, known as the “Islamabad Understanding,” shedding light on proposed arrangements concerning security in the Strait of Hormuz and the release of Iran’s frozen assets.
According to Iran’s state broadcaster IRIB, which obtained details of the draft memorandum, the text remains non-final but outlines key elements of a potential framework governing maritime traffic through the strategic waterway and addressing long-standing financial disputes between the two sides.
Strait of Hormuz Security Framework
Under the draft, one of the central provisions would redefine navigation rules in the Strait of Hormuz, with the Islamic Republic designated as the sole authority responsible for determining the status of vessels transiting the passage.
The document stipulates that any vessel carrying cargo deemed threatening, or whose end user is considered hostile to Iran, would not be recognized as a commercial vessel and would be denied passage through designated shipping lanes.
The draft also grants Iran authority over maritime routing, navigation service fees, security protection measures, and environmental damage management. All vessels would be required to submit detailed information to the relevant naval command center, including cargo manifests, ownership records, and destination data.
These disclosures would serve as the basis for assessing whether a vessel poses a potential threat, while physical inspections could be conducted when deemed necessary. The document suggests that the proposed mechanism extends beyond a political framework and includes clear financial and operational dimensions.
🚨 EXCLUSIVE
— IRIB (Islamic Republic of Iran Broadcasting) (@iribnews_irib) May 30, 2026
According to the draft memorandum of understanding, the U.S. has committed to granting Iran access to $12 billion of its blocked assets within 60 days.
Release of Frozen Iranian Assets
On the financial front, the draft understanding addresses the issue of Iran’s frozen foreign-currency assets. Under the proposed arrangement, the United States would facilitate Iran’s full access to $12 billion of its assets within 60 days.
The agreement further requires that the funds be transferable and fully accessible through banking channels designated by Iran, without restrictions on their use.
Banking guarantees related to the process were reportedly discussed in the presence of the governor of the Central Bank of Iran during the Iranian negotiating delegation’s visit to Qatar, with the aim of preventing a repeat of previous experiences in which released assets became effectively unusable.
The document concludes by emphasizing that the text remains an informal understanding subject to further negotiations, review, and revisions before any final agreement is reached.