US moves to monitor Iran’s oil revenue spending under ceasefire deal

WASHINGTON, United States — WASHINGTON — The United States is preparing to monitor how Iran spends revenue from its oil sales, US Ambassador to the United Nations Mike Waltz said, adding that Washington wants the funds channeled into US-controlled accounts and could halt the flow if terms are violated. Waltz also warned that the naval blockade could be reimposed. The remarks come after the US, Iran and Pakistan announced on June 14 an agreement that includes a 60-day ceasefire. Under the deal, the naval blockade was to be lifted and military operations halted starting June 15. The US and Israel launched a war on Iran on February 28. The two countries signed a remotely signed memorandum ending the conflict on the evening of June 18, setting a timeframe for lifting the naval blockade and noting that Iran would resume navigation through the Strait of Hormuz. The parties are to return to negotiations within 60 days to address outstanding issues, with the nuclear file at the center of the talks.