On June 15, U.S. Vice President J.D. Vance announced that vessels would pass through the Strait of Hormuz free of charge for the next 60 days as part of ongoing negotiations between the United States and Iran.
The memorandum, signed electronically on June 15, stipulates that access to and exit from the critical waterway will remain free during the negotiation period. Vance emphasized that the United States expects passage through the strait to continue without cost following the conclusion of talks.
During a statement, Vance addressed concerns raised about potential ship breakdowns: “The question arose, what if the ship breaks down? Will there be a service charge if you have to tow the vessel? This is a completely different issue. We have made it clear to them that we will not tolerate a system that involves paying for the passage of ships through the Strait of Hormuz.”
On June 15, President Trump also announced partial unblocking of the Strait of Hormuz waters and indicated the United States may gradually lift sanctions against Iran if Tehran fulfills its obligations under the agreements. Vance described the memorandum as a general framework with specific details to be finalized during technical negotiations. He expressed hope that Iran would pursue closer economic cooperation with the United States.
The agreement will unblock the Strait of Hormuz but does not resolve issues related to Iran’s nuclear program and sanctions.
