U.S. and Iranian Technical Teams Expected to Meet in Doha on Peace Deal Implementation

Iranian and U.S. technical teams are expected to meet in Doha in the coming days to implement an interim peace deal, a source with knowledge of the discussions said Monday. Mediators have established communications channels to de-escalate any incidents, and technical talks are set to continue.

The U.S. and Iran signed a 14-point memorandum of understanding on June 17 aimed at ending four months of conflict. Under the accord, both sides agreed to cease hostilities and reopen the Strait of Hormuz, which typically transits a fifth of the world's oil and liquefied natural gas.

Closure of the waterway had sent oil prices above $100 a barrel. Iranian President Masoud Pezeshkian said on Monday that $6 billion out of $12 billion of assets frozen in Qatar would be released and returned to Iran following the accord. He added that the agreement had lifted sanctions on Iran's oil and petrochemical sectors, describing it as a great victory for the Iranian people.

A U.S. official said on Sunday that the two sides had agreed to stop the hostilities. Technical talks are slated to continue on all areas of the memorandum, and vessels can move freely, the official said.

Iran's Deputy Foreign Minister Kazem Gharibabadi said on Monday that technical working group meetings were not scheduled for this week and that talks in Qatar were not confirmed. Consultations with Qatar on implementation of commitments were continuing as usual, he said. Oil prices steadied at around $72 a barrel for Brent crude on Monday.

An Iranian projectile hit a cargo vessel in the Strait of Hormuz on Thursday. Iran launched missiles and drones at U.S. military sites in Kuwait and Bahrain early on Sunday. Kuwait's army said its air defences responded to the attacks and intercepted two ballistic missiles with no damage or casualties.