Iran says MOU sets immediate start to lift US naval blockade, with full removal within 30 days

Iran says it has reached a Memorandum of Understanding (MOU) with the United States to begin lifting a naval blockade immediately after signing and to remove it fully within 30 days, aiming to restore ship traffic to prewar levels. Iran’s foreign minister said Tehran will independently manage the Strait of Hormuz and plans to develop a management mechanism with Oman. The US has not formally confirmed the MOU, and Iranian officials have denied it has already been signed in Geneva, saying talks are still ongoing. The development eases near-term supply risks in the Gulf and adds downward pressure to oil prices.