Iran waives Strait of Hormuz transit fees for 60 days under US deal
The Iranian government will cover all transit-related costs during the period, while vessels will still need approval from the Persian Gulf Strait Authority before entering the strategic waterway.
Iran has suspended transit fees for commercial vessels passing through the Strait of Hormuz for 60 days, implementing one of the first measures under a newly signed agreement with the United States aimed at easing regional tensions and restoring maritime trade.
The Iranian government will cover all transit-related costs during the period, while vessels will still need approval from the Persian Gulf Strait Authority before entering the strategic waterway, reports India Today.
The move follows a 14-point US-Iran agreement that establishes a 60-day framework for negotiations on regional security, maritime navigation, sanctions relief and Iran's nuclear programme.
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Iran said ships must continue to follow designated transit routes and schedules for security and safety reasons.
The announcement came shortly after US Central Command said American forces had stopped enforcing blockade measures affecting vessels travelling to and from Iranian ports.
The Strait of Hormuz is one of the world's most important shipping routes, carrying a significant share of global oil and liquefied natural gas exports.
The fee waiver and easing of restrictions are being seen as the first major confidence-building steps under the US-Iran agreement.
