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The Economic Times

National / The Economic Times

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Iran says it will waive fees for Hormuz during 60 day negotiation period

Iran has announced a 60-day waiver on fees for ships transiting the Strait of Hormuz, following a memorandum of understanding with the United States. During this negotiation period, vessels must submit transit requests 48 hours in advance. This measure aims to ensure safe passage by coordinating routes and transit times, especially in areas potentially affected by mines. The waiver covers security, safety, environmental services, and related insurance.

19 Jun 2026 4:48 pm