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Iran waives transit fees in the Strait of Hormuz for 60 days as part of a US-Iran MoU aimed at easing tensions and restoring maritime trade. The waiver covers security, safety, environmental, and insurance charges, with Iran temporarily bearing the cost. Shipowners must register with the Persian Gulf Strait Authority, give 48 hours’ notice, follow designated routes, and obtain approved insurance. The measure helps rebuild shipping confidence, but markets remain cautious because Iran may reintroduce transit and security fees after the waiver period ends.
Friday, 19 June, 2026