Iran suspends Hormuz transit charges for 60 days under US deal
Iran has suspended transit fees for commercial vessels passing via the Strait of Hormuz for 60 days.
This move executes one of the measures under a recently signed Memorandum of Understanding (MoU) with the US aimed at resolving regional issues, according to Iran's Persian Gulf Strait Authority (PGSA).
During the 60-days negotiation period, the Iranian government will cover all transit-related costs, while the vessels are required to receive approval from the Persian Gulf Strait Authority before crossing the vital waterway.
The significant move comes after a 14-point US-Iran agreement that establishes a 60-day framework for negotiations on regional security, sanctions relief and Iran’s nuclear programme.
Iran stated ships are required to continue to follow designated transit routes and schedules due to safety concerns.
The Strait of Hormuz is one of the world's most important shipping routes, used for global trading purposes.
Separately, the US-Iran talks in Switzerland abrupt called off after JD Vance lashes out at Israeli critics.
