Iranian Parliament Speaker Mohammad Bagher Qalibaf said Iran holds sovereign rights over the Strait of Hormuz as one of the coastal states bordering the strategic waterway.
He stated that the Strait of Hormuz “will not return to its previous state”, while stressing that this does not mean Iran intends to act outside the framework of international law.
“Iran has sovereign rights in the Strait of Hormuz, and it is only natural that it will charge fees for the services it provides,” Qalibaf said.
He explained that Paragraph 13 of the memorandum of understanding stipulates that commitments will be implemented on a step by step basis, with each side fulfilling its obligations in parallel.
Qalibaf also pointed to the memorandum’s provisions concerning reconstruction and economic development, saying that the United States does not acknowledge itself as the aggressor in order to avoid paying compensation.
However, he noted that the memorandum includes the establishment of an investment fund worth US$300 billion.
The Iranian parliament speaker further stated that there are no legal obstacles under Iranian law preventing American companies from operating or investing in Iran.
He added that the memorandum of understanding formally recognises Iran’s right to receive payments in exchange for providing services to vessels transiting the Strait of Hormuz.
“This issue has been firmly established in the memorandum of understanding,” he said.
