US and Iran Reach an Understanding on Iran's Frozen Assets, and Plan to Reach a Ceasefire and Navigation Agreement

The U.S. and Iran have reached an understanding on multiple issues, with the Strait of Hormuz expected to fully open 30 days after the agreement takes effect, leading to a decline in international crude oil prices and a single-day drop in Brent crude futures exceeding 7%.

Under Qatar's mediation, the U.S. and Iran have reached a consensus on the issue of Iran's frozen assets. The market expects both sides to officially announce the related agreement as soon as Tuesday. The ceasefire agreement reached by the two countries will also be extended for 60 days, leaving a window for subsequent rounds of negotiations.

On April 25th, President Trump wrote on social media that Iran's enriched uranium could be "destroyed on-site" or at "another acceptable location."

Strait Navigation Arrangements Implemented

According to the plan discussed by both parties, within 30 days after the formal conclusion of the agreement, Iran will complete the clearance of naval mines in the Strait of Hormuz. After the shipping lanes return to pre-blockade conditions, vessels from various countries may navigate freely and safely.

Iran has clearly stated that it will not charge passing vessels for transit fees, and this global key energy transport corridor will return to regular operation. The strait carries a significant share of global crude oil maritime transport, and the resumption of navigation has far-reaching implications.

The resumption of navigation in this cycle relies on the overall framework agreement between the U.S. and Iran for advancement, and the final implementation still requires both parties to complete the internal approval process, which carries a certain degree of uncertainty.

Sanctions and Asset Disposal Pace

The U.S.'s lifting of sanctions on Iran and the unfreezing of Iranian frozen financial assets will be implemented in a phased approach. The asset issue is a core demand of Iran and an important breakthrough in these negotiations.

The relevant news was disclosed by Al Jazeera referring to insiders from the Doha talks, stating that both parties have only reached an understanding and the formal agreement has yet to be announced.

The market generally views asset unfreezing as an important signal of eased U.S.-Iran relations and a significant support for cooling the regional situation.

Ceasefire and Future Negotiation Planning

The ceasefire agreement previously reached by the U.S. and Iran will be extended for 60 days, during which both parties plan to advance negotiations related to Iran's nuclear program. Negotiations will focus on specific issues such as the disposal of Iran's enriched uranium.

The relevant conflicts in Lebanon have also been included in the ceasefire scope, with Iran demanding that Israel stop attacking Hezbollah, while Israel puts forward the demand for Hezbollah to disarm.

The approval of Iran's Supreme Leader is a key prerequisite for the implementation of the proposed agreement, and whether the agreement will ultimately be signed remains to be seen.

Trump publicly indicated that the U.S.-Iran negotiations are progressing smoothly, stating that he will only sign a substantive agreement that prevents Iran from possessing nuclear weapons. The Pakistani military also revealed that the relevant agreement is close to finalization.