Singapore welcomes US-Iran agreement to end military operations in Middle East, reopen Strait of Hormuz

SINGAPORE: Singapore welcomes the signing of the Memorandum of Understanding (MOU) between the United States of America and Iran to cease all military operations in the Middle East and establish a framework for further negotiations on outstanding issues, the Ministry of Foreign Affairs (MFA) said on Thursday (Jun 18).

US President Donald Trump and Iran's president signed a deal on Wednesday meant to end the Middle East war, paving the way for a broader 60-day negotiation period.

MFA commended the efforts of the mediators that have made this possible, in particular Pakistan and Qatar.

"A resolution of the outstanding issues in accordance with international law will create the necessary conditions for lasting peace, security, and stability in the region," it said.

MFA added that it welcomes the commitment under the MOU to reopen the Strait of Hormuz - the Strait is used for international navigation and a critical conduit for maritime trade.

"We urge all parties to uphold their obligations under the United Nations Convention on the Law of the Sea and customary international law with respect to safe and unimpeded transit passage in the Strait of Hormuz, and to protect the safety and well-being of seafarers and ships in the region."

THE DEAL

The deal titled the Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran - sees most of the difficult issues deferred, including how to wind down Iran's nuclear programme, until a final deal is reached.

A two-month negotiating period now begins, with the much-anticipated reopening of the Strait of Hormuz as the first step.

Under the terms of the deal released by US officials, Iran will dilute its enriched uranium stocks, possibly by "down-blending on site under the supervision of the IAEA" - the UN's nuclear watchdog.

Down-blending involves mixing enriched uranium that can be refined to make atomic bombs with depleted uranium, to reduce its radioactivity.

Other items from the agreement include ending the war on all fronts, including in Lebanon.

Under the text, Washington also commits to immediately waive oil sanctions crippling Iran's economy.

And once a final agreement is reached on Iran's nuclear programme, the US will also facilitate the release of a US$300 billion reconstruction fund supported by regional nations, the deal says.