Iran will waive transit fees for ships passing through the Strait of Hormuz for 60 days

Commercial vessel passage will commence immediately and will be fully restored within 30 days, taking into account Iran’s need to remove technical and military obstacles and to carry out mine clearance operations. Iran will hold talks with Oman and consult with other Gulf coastal countries to determine the future management and maritime service arrangements for the Strait of Hormuz. The future management of the Strait of Hormuz will be based on “applicable international law and the sovereign rights of the coastal states of the strait.”