Iranian ships transit Hormuz in ‘first tangible outcome’ of MoU

A small number of vessels have resumed transiting the Strait of Hormuz after Iran reported the passage of three oil tankers and two cargo ships through the strategic waterway. The development follows a preliminary memorandum of understanding between Iran and the United States aimed at ending military hostilities and restoring maritime traffic. Iranian officials describe the resumption of shipping as an early test of compliance and a tangible sign of progress under the agreement. Tehran has linked further negotiations to verifiable actions on the ground, reflecting longstanding distrust between the two sides. The report comes amid renewed focus on more than $100bn in Iranian assets frozen overseas due to decades of sanctions. Much of the money consists of oil revenues and foreign currency reserves held in countries including Iraq, China, Japan, India and South Korea. Analysts say any easing of restrictions could provide much-needed economic relief for Iranians facing years of inflation and economic hardship. Iranian officials hope progress on maritime access and sanctions could pave the way for broader economic recovery.

Al Jazeera's Almigdad Alruhaid reports from Tehran.

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