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U.S. Agrees to Release Some Frozen Iranian Assets in Strait of Hormuz Deal

The agreement is described as part of an effort to secure safe passage through the Strait of Hormuz ahead of a potential peace agreement.

Summary

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Terms & Concepts
  • Frozen assets: Funds or property blocked from use, usually because of sanctions, legal restrictions, or government controls.
  • Strait of Hormuz: A vital oil shipping chokepoint linking the Persian Gulf to global markets, making it highly important for energy trade.