Iran pledges nuclear concessions to US

An Iranian official has told Reuters that lifting the freeze on Iranian assets is part of the agreement to open the Strait of Hormuz. This new detail links the financial concession directly to the reopening of the critical waterway. The statement follows Iran's earlier pledge to the United States to overground its nuclear facilities and transfer enriched uranium out of the country. The reopening of the strait has already led to a significant drop in global oil prices.