Strait of Hormuz reopening: Iran waives transit fees as mine-clearing begins

Iran has announced that ships transiting the Strait of Hormuz will not be charged application fees for the next 60 days following the recent agreement between Tehran and Washington.

According to a statement from Iran’s Supreme National Security Council, the Persian Gulf Waterway Management Authority (PGSA) will oversee vessel traffic through the strategic waterway.

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The government said it would cover the costs during the initial period.

“Given the special conditions and the presence of certain safety risks along the transit route, and in order to ensure safe passage and prevent maritime incidents, vessels must transit according to the routes and schedules communicated to them so that traffic capacity can gradually increase,” the statement read.

The Strait of Hormuz is one of the world's most important energy corridors and handles a significant share of global oil and gas shipments.

According to the report , Iranian authorities said the PGSA would release further details on how the transit system will operate as traffic gradually returns to normal levels following months of disruption caused by the conflict.