Al Mayadeen English: Iranian state television reported that the unofficial text of the Islamabad Understanding...

Iranian state television reported that the unofficial text of the Islamabad Understanding has not yet been finalized, but said the draft outlines key elements of a new security framework for the Strait of Hormuz and addresses the fate of Iran's frozen assets.

According to the unofficial version, one of the agreement's central provisions is the redefinition of navigation and transit rules in the Strait of Hormuz. Under the proposed framework, the Islamic Republic of Iran would serve as the exclusive authority in determining the status of vessels passing through the strategic waterway. Any vessel whose cargo is deemed a threat, or whose ultimate beneficiary is considered hostile to Iran, would not be recognized as a commercial vessel.

The draft also grants Iran authority over the designation of shipping routes, navigation service fees, security provisions, and compensation for environmental damages. Vessels would be required to provide their information to the relevant Iranian center and complete forms detailing their cargoes.

Iranian state television said this information would form the basis for determining whether a vessel poses a threat and would also enable on-site inspections.

The release of Iran's frozen financial assets is another major component of the unofficial framework. According to the report, the United States has pledged to provide Iran with full access to $12 billion of its assets within 60 days. The funds would be transferable and spendable through banks designated by Iran without any restrictions.