An Iranian official says the reopening of the Strait of Hormuz would proceed in phases, with an initial stage involving the release of frozen Iranian assets by the United States, the start of minesweeping operations and the easing of the current US blockade, Anadolu reports, citing a report published by The Washington Post.

Speaking anonymously to the paper, the Iranian official says the first phase will include the release of $12 billion in frozen Iranian assets, minesweeping operations in the Strait of Hormuz and the lifting of the US blockade.

The official adds that the proposed memorandum of understanding will not constitute a nuclear agreement, but rather a commitment to conduct future negotiations on nuclear-related issues. The official further says that a more detailed announcement could be made later today.

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