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U.S.-Iran oil exports ahead of peace talks

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Kathmandu. With just two days to go before the final U.S.-Iran peace talks begin, Iranian oil tankers have begun pulling out of the U.S. blockade.

It is seen as Iran’s first crude oil export in two months and has had an impact on global oil markets as hopes of easing tensions in the Middle East mount.

International oil prices have fallen as the Strait of Hormuz has reopened.

Meanwhile, talks between the United States and Iran on the final deal are set to begin on Friday in the mountain resort of Bergenstock, Switzerland. Iran’s nuclear program and the lifting of international sanctions will be on the agenda of the talks.

TankerTracker, an oil tanker-tracking website, said satellite images and digital tracking data showed that at least two Iranian supertankers had left the U.S. naval blockade. The tankers, named Deona and Hero-2, are said to contain about 3.8 million barrels of Iranian crude oil. Later, it was reported that a third tanker had left the area.

Officials say the 60-day talks, which will begin after initial agreements, will decide on the future of Iran’s nuclear program and the process of lifting economic sanctions.

The Wall Street Journal, citing sources familiar with the deal, said the US would allow Iran to sell oil and oil immediately as part of the agreement to end the war. Banking, transport and insurance services will also be included in the easing of restrictions.

However, there has been a mixed reaction to the agreement within the United States. Some Republican lawmakers have asked the Trump administration for the full text and details of the agreement. Senate Majority Leader John Thune said it was important to understand the true nature of the agreement.

But regional tensions over the peace process remain. Israel’s military said it was carrying out operations in southern Lebanon, saying rocket fire had stopped and airstrikes had been carried out on the launch site.

Lebanon’s state news agency said at least four people were killed in the attacks in the Mefadoun and Suqin regions. Iran’s Central Military Command has warned Israel of a “strong response”.

President Donald Trump, Vice President J.D. Vance, Iran’s Deputy Foreign Minister Majid Takht-Ravanchi and top negotiator Mohammad Bagher Ghalibaf signed the draft agreement electronically, according to a senior US official.

Iran’s Foreign Minister Abbas Araghchi said a new round of talks would begin on Friday, with the final deal likely to decide on the nuclear issue and the lifting of sanctions.

Oil prices in the global market have fallen on expectations of the reopening of Hormuz. Brent crude, the international benchmark, fell to $78.74 a barrel and the U.S. West Texas Intermediate fell to $75.85 a barrel.

While indirect talks, brokered by Pakistan and Qatar, helped reach an interim agreement, complex issues such as Iran’s uranium enrichment programme and Western sanctions remain unresolved. The United States and Israel have been pressuring Iran to give up its enriched uranium stockpile, while Iran has reiterated its stance on maintaining its enrichment rights.

Meanwhile, Trump has indicated that the text of the agreement could be released soon. Iran’s conservative newspaper Bhatan-e Imroz described the deal as “Trump’s surrender document”.

But Araghchi recalled his past experiences and said caution was needed. According to him, Iran has experienced repeated breaches of agreements and broken commitments in the past.

Vance made it clear that US taxpayer money would not go into Iran and that nuclear inspectors would be allowed to enter Iran. However, Iranian media have claimed that $12 billion worth of stashed wealth could be released.

Analysts say the parallel conflict between Israel and Iran-backed Hezbollah remains the biggest challenge to diplomatic efforts. Lebanon was dragged into war in March after Hezbollah launched rocket attacks on Israel, deepening regional tensions.

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