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The United States and Iran have reached a preliminary agreement aimed at partially easing sanctions imposed on Iran. The deal includes a temporary exemption of 60 days from certain sanctions on oil and petrochemical exports, as well as Iran regaining approximately $12 billion of its frozen assets abroad. It is also expected that discussions will continue regarding a gradual lifting of sanctions in subsequent stages, along with the establishment of an international program to rebuild the Iranian economy with funding of no less than $300 billion. One of the key points of the agreement is the reopening of the Strait of Hormuz to commercial shipping, which could reduce pressures on global energy markets and lower transportation and insurance costs. This is contingent upon the removal of naval mines and the restoration of shipping companies’ confidence.
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