What to expect as US, Iran move to finalise peace deal
During the three months of the Middle East conflict, fuel prices in Tanzania rose sharply, placing pressure on transport, food prices and household spending. PHOTO | FILE
Dar es Salaam. Tanzanians could begin seeing relief from soaring fuel and transport costs following a memorandum of understanding signed by the United States and Iran aimed at ending months of conflict that has rattled global energy markets.
The agreement, signed electronically on Wednesday, provides for an immediate cessation of hostilities, the reopening of maritime traffic through the Strait of Hormuz, the lifting of restrictions on Iranian ports, the easing of US sanctions and the release of frozen Iranian assets. It also outlines a $300 billion reconstruction fund for post-war recovery.
