Iran Grants 60-Day Exemption on Strait of Hormuz Ship Fees Before Implementing Charges

The Iranian news agency Fars reported, citing a knowledgeable source, that Iran will not impose fees on ships passing through the Strait of Hormuz for a period of 60 days. However, Tehran plans to begin collecting these fees once this exemption period ends.

According to the agency, vessels will be able to transit the Strait of Hormuz without paying any charges during this 60-day timeframe only.

Following this period, Iran intends to generate financial revenue from maritime traffic in the strait by providing services related to security, navigation, and insurance. The agency did not specify when this measure would officially commence.

Iranian media indicated that the United States has given its preliminary approval to the idea of imposing fees.

Fars agency also noted that the text of the Iranian-American memorandum of understanding designates Iran and the Sultanate of Oman as responsible for regulating navigation through the Strait of Hormuz.

On Sunday, US President Donald Trump and Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed the completion of a memorandum of understanding, which is scheduled to be signed in Switzerland on June 19.

According to the Iranian Foreign Minister, the memorandum between Iran and the United States includes an immediate ceasefire of military actions on all fronts, including Lebanon.