Skip to content
You can now search across every topic, entity and event.What's new
European Oil Markets
23JUL

Iran's parliament turns on its signatory

3 min read
19:27UTC

Around 60 members of Iran's Majlis signed a letter demanding Ghalibaf explain why he put his name to the memorandum, roughly a fifth of the 290-seat chamber. One MP said renaming a treaty a memorandum changes nothing binding.

EconomicDeveloping
Key takeaway

Iran's parliament wants its speaker to justify a signature the people who run the war never gave.

Around 60 members of Iran's Majlis, the 290-seat Parliament, signed a letter demanding speaker Mohammad Bagher Ghalibaf explain why he put his name to the memorandum. 1 That is roughly a fifth of the chamber, a bloc large enough to threaten any ratification vote. Ghalibaf signed for the Parliament; the Parliament is now asking him to account for it. The revolt followed street protests in which the Basij marched on the foreign ministry and crowds in Mashhad demonstrated against Araghchi .

The legal argument cuts against the government. MP Abolfazl Aboutorabi said the document carries binding obligations "that cannot be resolved by simply changing the name", rejecting any claim that the memorandum label makes it less than a treaty. Amirhossein Sabeti of the hardline Paydari faction said the deal "violates the Supreme Leader's red lines". President Masoud Pezeshkian defended his negotiators, calling it unfortunate that officials safeguarding the national interest "face accusations of betrayal".

Mojtaba Khamenei, the one signature Iran most needs, has not appeared in public since March and rules by handwritten messages carried by courier, with a lag of several days. Trump claimed the Supreme Leader had personally approved the deal, but the approver has stayed unreachable at the speed the diplomacy is moving , and a mediating-country diplomat told Axios the deal was cleared "at high levels" but "likely not" by Khamenei himself. Ghalibaf's name is on the paper; Khamenei's is not.

Deep Analysis

In plain English

Iran's parliament (called the Majlis) has around 290 elected members. About 60 of them have signed a letter demanding that the parliament speaker, Mohammad Bagher Ghalibaf, explain why he personally signed the Islamabad MOU on behalf of Iran. Ghalibaf is not Iran's president or foreign minister; he is the Speaker of Parliament. He signed the deal as the pro-deal face of Iran's government, but his own parliamentarians are now questioning whether he had the authority to do so. Two MPs have spoken out: Aboutorabi says the document carries binding legal obligations regardless of what it is called, and Sabeti from the hardline Paydari faction says the deal breaks lines that the Supreme Leader has said are non-negotiable. Iran's President Pezeshkian is defending the negotiating team, but around one-fifth of parliament has publicly turned on its own Speaker.

Deep Analysis
Root Causes

Ghalibaf's position exposes a structural tension in Iran's constitutional order. The Majlis Speaker is the third-ranking constitutional figure, but Iran's foreign policy authority under the constitution rests with the Supreme Leader (Article 110) and the Supreme National Security Council. Ghalibaf signed an international instrument as the de facto executive face of Iran's pro-deal faction, a role that the constitution reserves for institutions with Supreme Leader endorsement.

Sabeti's invocation of Khamenei's red lines compounds the problem. Khamenei has not publicly endorsed the MOU and is reachable only by sealed courier with a three-to-five-day lag. The Paydari faction is therefore arguing, with some constitutional basis, that a signature was produced by the third-ranking official on an instrument the highest authority has not endorsed.

First Reported In

Update #129 · Iran deal signed, but no paper to show

Euronews Persian· 16 Jun 2026
Read original
Different Perspectives
US money managers (CFTC-tracked)
US money managers (CFTC-tracked)
US money managers had trimmed WTI net long positioning into July's rally, doubting the Hormuz premium would hold without freight or war-risk confirmation, and the crude stock build reported for the week to 17 July gives that scepticism a fundamentals basis. The 25 July CFTC data will show whether Brent's move above $100 changed their calculus.
Asian distillate buyers (Singapore)
Asian distillate buyers (Singapore)
Singapore's distillate holders kept retaining middle-distillate barrels as the East-West arbitrage window narrowed further this week, a pattern that sharpened as Fujairah light distillates hit a record low. Cargoes are being held rather than released west into the tightening Mediterranean market.
Bulgaria
Bulgaria
Bulgaria secured the removal of Lukoil founder Vagit Alekperov and Patriarch Kirill from the 21st package, with President Rumen Radev calling a personal listing 'shooting ourselves in the foot'. Sofia is protecting its position in Lukoil's EUR 3bn compensation claim over the 2023 Neftohim Burgas nationalisation.
Russia
Russia
Russia loses the roughly $14 a barrel of legal headroom the price-cap formula would have released toward $58, even as Urals continues trading below Moscow's $59 budget floor. The shadow-fleet insurance workaround that lets sanctioned crude clear above $44 in practice remains untouched by the freeze itself.
European Union
European Union
The EU adopted its 21st sanctions package on 23 July, freezing the $44 Russia oil cap for 12 months rather than letting the formula drift it toward $58, and listed shadow-fleet support vessels for the first time. The package cleared only after three failed Coreper votes.
Marine war-risk underwriters (Lloyd's-linked syndicates)
Marine war-risk underwriters (Lloyd's-linked syndicates)
War-risk syndicates lifted southern Red Sea hull premiums 150% to about 0.75% of hull value after the 20 July blockade declaration, still a seventh of the roughly 5% Hormuz band. Underwriters reset on realised loss, not declared threat, so the 23 July Encelia and Layla strikes set up the next re-mark.