What Do We Know About The Hormuz Strait Reopening?
A key condition of the MoU signed on Wednesday night was the complete reopening of the Strait of Hormuz to all shipping traffic, both entering and exiting the Persian Gulf. Late on Thursday, Iran’s Supreme National Security Council announced that the passage is being opened and ship crossing the critical waterway will “not pay any fees for 60 days, and the administration of the Islamic Republic of Iran will cover these costs.” Iran has repeatedly threatened to charge a toll for all ships passing through the strait, despite pushback from neighbors and U.S. officials. The interim deal signed by both sides requires Iran to ensure toll-free passage for at least 60 days, but it’s unclear if Tehran will start charging a fee after that.
Read more Government Cuts Student Loan Interest By 1% If Borrowers Use Auto-Pay