Iran suspends Strait of Hormuz transit fees for 60 days amid US talks

Iran has announced a temporary waiver of transit fees for vessels passing through the Strait of Hormuz. The decision comes as part of a negotiation period with the United States after a memorandum of understanding was signed. The 60-day fee waiver will allow ships to navigate the Strait of Hormuz without charges. This applies only to vessels that meet all necessary requirements during the period.

The move follows the signing of a memorandum of understanding between Iran and the US. It marks a step in ongoing discussions between the two nations. The waiver will remain in effect for 60 days. Vessels complying with the rules will not pay fees during this time. The decision is tied to the current negotiation phase with the United States.