Iran inserted a last-minute clause for transit fees in the Hormuz agreement, Fars reports
Tehran amended the memorandum of understanding with Washington moments before it was finalised, adding a provision that paves the way for charges on commercial vessels passing through the strategic Strait of Hormuz.
The last-minute clause
Iran’s state-linked Fars news agency, citing an anonymous source, reported that the text of the US-Iran memorandum was rewritten at the eleventh hour. The revision explicitly confirms what the agency describes as Iranian and Omani sovereignty over the Strait of Hormuz, a waterway that normally carries a fifth of the world’s oil consumption.
In the last minutes of the negotiations, the memorandum of understanding was amended to clearly and unequivocally emphasise the issue of Iran-Omani sovereignty over the Strait of Hormuz.
The insertion introduces the concept of “shipping services,” which according to Fars means the United States has accepted that fees will be paid to Iran. Under the terms, passage without charge is guaranteed only for a 60-day window. After that period, Tehran plans to levy fees for services such as security, navigation, environmental protection and insurance, using the revenue for the country’s economic development.
The broader ceasefire
Pakistani Prime Minister Shehbaz Sharif, whose country mediated the talks, announced early on Monday that a preliminary agreement had been reached. US President Donald Trump confirmed the deal minutes later on Truth Social, stating that the agreement with the Islamic Republic of Iran was complete. Iranian Deputy Foreign Minister Kazem Gharibabadi told state television that the pact mandates an immediate halt to hostilities and military operations on all fronts, including Lebanon.
Negotiations will begin within 60 days with a view to concluding a final agreement.
Gharibabadi listed four agenda items for those talks: the lifting of all primary and secondary sanctions against Iran, the nuclear programme, reconstruction and economic development, and the creation of a dispute-resolution mechanism. He cautioned that Tehran still views Washington with deep distrust.
What the deal contains for shipping
The preliminary accord, as outlined by Reuters and cited in Greek media, requires Iran to immediately reopen the Strait of Hormuz to all commercial vessels. In parallel, the United States will begin lifting its naval blockade of Iranian ports, a process expected to be completed within 30 days. Shipping companies, however, remain cautious. Industry sources estimate that more than 100 tankers are waiting in the Persian Gulf and that it will take several days to weeks before normal traffic resumes fully.
Oil market impact
News of the agreement triggered a fall in oil prices, which had surged after the war erupted in late February and the strait was closed. The restoration of free navigation removes a major supply-chain risk, though market analysts note that the cautious return of tankers may delay the full price correction.
- Deal announced; strait reopens immediately. US begins lifting naval blockade of Iranian ports.
- Expected completion of US naval blockade lift (within 30 days).
- 60-day free-passage window expires. Iran may start charging fees for shipping services.
The timeline below maps the key phases agreed by Washington and Tehran.
