Iran Grants Temporary 60-Day Exemption for Ships in Hormuz Strait Ahead of Fees

Informed sources announced Iran will not impose fees on ships traversing the Strait of Hormuz for sixty days, but intends to begin collecting them after this period. During this grace period, vessels can pass freely without payment, before Tehran starts collecting financial revenues from the Strait's navigation traffic. These revenues aim to cover costs for providing integrated services, including security, navigation, and insurance for transiting vessels. No official start date for these measures has been set yet. In a related context, Iranian media reports indicate the United States granted preliminary approval to the idea of imposing these fees. A draft Iranian-American memorandum of understanding specifies that maritime navigation regulation in the Strait of Hormuz falls under Iran and Oman's jurisdiction. US President Donald Trump and Iranian Deputy Foreign Minister Kazem Gharibabadi previously confirmed completion of a MoU draft, scheduled for signing in Switzerland on June 19. According to the Iranian Foreign Minister, this memorandum mandates an immediate cessation of military actions on all fronts, including Lebanon.