Iran will immediately take steps to reopen the Strait of Hormuz once a tentative deal with the U.S. to end the war is signed and will be allowed to sell its oil without restrictions, according to leaked copies of an interim agreement that officials say broadly matches the document.

The accord, due to be signed Friday in Switzerland, also envisions Iran receiving at least $300 billion to rebuild after the war and says the U.S. would work to end all American and United Nations sanctions imposed on Tehran — if a final agreement addressing Iranʻs nuclear program is reached.

The U.S. and Israel went to war on Feb. 28 in part to prevent Iran from ever getting a nuclear weapon, although U.S. President Donald Trump’s goals in the conflict have repeatedly shifted. The interim deal stops the war before that aim is secured. Instead, it opens a two-month period for nuclear negotiations and appears to offer Iran several benefits up front while extracting little in return.

The U.S. agreement to immediately allow Iran to sell its oil freely and the offer to eventually lift all sanctions, for instance, represent major concessions that go beyond the terms of Iranʻs 2015 nuclear deal with world powers that Trump withdrew America from in his first term, declaring it the “worst deal ever.”

The accord likely will draw intense opposition in Washington, and it appears to be a major setback for Israeli Prime Minister Benjamin Netanyahu, who has come under criticism at home from the media, his opponents and even some allies as details emerge.

Much of the agreement would restore the status quo before the war, including ending hostilities, restarting negotiations between the U.S. and Iran over Tehran’s nuclear program, and reopening the strait, which is a crucial passage for the world’s oil and natural gas and whose closure created a historic energy crisis.

The deal provides a major win for the global economy — the reopening of the Strait of Hormuz, the narrow mouth of the Persian Gulf through which a fifth of all oil and natural gas traded once passed before the war began. Since then, Iranian attacks on shipping and the threat to vessels effectively shut the strait.

The White House and other American officials have not published the terms and did not immediately respond to questions. However, White House communications director Steven Cheung wrote online Wednesday after CNN published a leaked version of the deal that it “does not reflect the language of the actual” agreement, without elaborating.

As reported recently, the tentative deal to end the Iran war makes it reasonable to ask how soon prices will drop for gasoline, groceries, airline tickets and other items that got more expensive during the conflict.

Not so fast, experts say. Even after oil starts flowing again from the Middle East, it could take a while for consumers to see a difference at local fuel pumps, supermarkets and other places they shop, according to economists and industry analysts.

Industry experts have spent months warning that even if the war ended, travellers should not expect airfares to go down immediately.

Airlines typically buy fuel in advance, adjust their schedules gradually and price tickets based heavily on demand, meaning lower oil and jet fuel prices can take weeks or months to get factored into the cost of commercial flights.

“I think it’s unlikely that we’re going to see a retreat or reduction in the cost of flying at any point this summer,” Columbia’s House said.

Fuel surcharges that some airlines outside the U.S. added are one of the first areas where passengers might get a reprieve, said Gordon Ho, a professor at the University of Southern California’s business school.

“Consumers are going to say, ‘Wait a minute, why are you still charging me a fuel surcharge?’” Ho said.

Source: Travelweek and The Associated Press