The Trump administration’s emerging post-war framework with Iran grants Tehran immediate sanctions relief for oil sales upon the agreement’s signing, with accompanying waivers covering banking, transportation, and insurance services needed to complete those transactions, The Wall Street Journal reported Tuesday, citing people familiar with the matter.

A nonprofit monitoring group said an Iranian crude carrier departed the port of Chabahar on Tuesday with its location tracker active, crossing the U.S. blockade zone and entering the Gulf of Oman—the first such occurrence since Washington established the blockade in April, the newspaper said. 

The oil sales relief takes effect upon signing of a memorandum of understanding the administration said the U.S. and Iran executed electronically Sunday and would finalize this week. The agreement also includes an extended halt in hostilities, a mutual lifting of blockades in the Strait of Hormuz, and the opening of extended nuclear talks, WSJ reported.

On frozen assets, the MOU permits Iran access to some restricted funds for payments processed through its central bank, people familiar with the matter told the news outlet. Iran has requested roughly $12 billion upfront and an additional $24 billion over a 60-day negotiating window the initial agreement would open, under terms of the deal. 

Sustained sanctions relief beyond oil sales would be contingent on Iranian compliance with U.S. demands including the strategic strait’s reopening and concessions on its nuclear program, a senior U.S. official told WSJ. Tehran would not receive immediate access to billions of dollars in frozen funds, the official said in the report.

Iran’s frozen assets, estimated at $100 billion, sit primarily in China in accumulated oil revenues unable to reach Tehran’s sanctioned banking system, according to the report. About $6 billion was transferred to Qatar under a 2023 Biden administration prisoner-exchange arrangement and another $1 billion held in Oman. Iran holds an estimated $15 billion in Iraqi banks from power and natural gas sales.

A $300-billion private-investment fund is also outlined in the framework, with more than half that sum already committed by corporate investors across the United States, Gulf Arab states, Asia, South America, and Africa, a source with direct knowledge of the deal told Reuters. The fund, to be named the “Reconstruction and Development Fund,” carries no government money and is entirely separate from the sanctions relief and frozen asset tracks, the source said. It will not become operational until a final agreement is concluded. 

Opposition to the framework from U.S. and Israeli lawmakers centers on extending financial relief and easing blockade pressure before major concessions are secured, WSJ reported.