Iran to waive Hormuz fees during 60-day negotiations

Iran to waive Hormuz fees during 60-day negotiations

Iran's Strait of Hormuz body said on Friday it would waive planned fees to use the strait during a 60-day negotiation period under the memorandum of understanding signed with the United States this week.

Ships seeking passage through the strait while the interim agreement is in force must submit transit requests at least 48 hours before arrival, Iran's Persian Gulf Strait Authority (PGSA) said in a notice.

Iran would waive fees for security, safety, environmental services, and related insurance during the 60-day window, while requiring vessels to coordinate routes and transit times in advance to avoid mine-affected areas, according to PGSA.

Iran previously said it will still exert control over the Strait in partnership with Oman and intends to charge ships service fees that did not exist before the war, although not during the 60-day talks.