Geneva: Iranian Ambassador and Permanent Representative to the United Nations (UN) Office in Geneva, Ali Bahreini, said on Tuesday that the Strait of Hormuz is fully open to commercial vessels and ships can pass through without any tolls.
Bahreini said the situation would be reviewed after 60 days, depending on the progress of negotiations between Iran and the United States.
Iranian and US negotiators have completed the first round of discussions in Switzerland on implementing the Memorandum of Understanding (MoU) signed by both sides last week.
Under the MoU, Iranian assets frozen by the US will be released, Bahreini said, adding that Iran alone would decide how those assets are used.
"Iran is the only country that decides what to do with those assets, and there would be no role for any other country or entity to have a say on how those assets should be used by Iran," he said, according to Xinhua news agency.
Bahreini also rejected claims from the US that Iran had agreed to allow inspectors from the International Atomic Energy Agency (IAEA) to return to the country.
"No, there hasn't been such a decision or even such a discussion," he said, adding that talks related to Iran’s nuclear activities would be addressed in the next stage.
He said any reports suggesting that Iran may permit IAEA inspectors to enter the country were incorrect.
Meanwhile, US Vice President J D Vance on Monday outlined a proposal suggesting that any future release of frozen Iranian assets could be used to purchase American agricultural products as part of a wider agreement being negotiated with Tehran.
According to Vance, the funds would be used to buy American agricultural commodities rather than being transferred directly to Iran.
"The money would actually go to buy American soy, American corn and American wheat for the benefit of the Iranian people," he said.
Vance described the proposal as beneficial for both countries.
"If Iranian assets are ever unfrozen, they're going to go to make American farmers richer and to feed the Iranian people," he said, calling it “a very classic Trump deal.”
With IANS inputs