Iran Declares Hormuz Strait Open and Free of Fees for 60 Days After U.S. Talks

Iran's permanent representative to the United Nations in Geneva, Ali Bahreini, announced on Monday (June 23) that the Strait of Hormuz is now fully open for commercial shipping and will remain free of passage fees for a 60-day period. The declaration follows a memorandum of understanding signed between Iran and the United States, which includes a U.S. commitment to lift its naval blockade and unfreeze Iranian assets. Despite the announcement, over 400 vessels remain anchored near the eastern entrance of the strait, awaiting full security guarantees. Talks between the two nations, mediated by Qatar and Pakistan, established a communication mechanism to ensure safe passage for merchant ships while a final agreement is negotiated.

On June 22, at least 36 commercial ships transited the strait, the highest single-day figure since the conflict began in late February, according to shipping analytics firm Kpler. This number represents approximately one-third of pre-war traffic levels. Among the vessels were four Qatari liquefied natural gas tankers and two supertankers carrying nearly two million barrels of crude oil each. The partial resumption of shipping came despite Iran's temporary announcement on June 20 that it had closed the strait again due to Israeli strikes on Lebanon; the U.S. Central Command later stated that passage remained "safe and unhindered."

Key obstacles to full recovery persist. According to the independent tanker owners' association Intertanko, about 80 sea mines remain in the main shipping channel, and Western maritime security agencies estimate that mine clearance could take 40 to 50 days even after a final agreement. High war risk insurance premiums are also a barrier; a single voyage by a very large crude carrier (VLCC) can incur over $1 million in cargo war risk insurance, according to MSIG USA. Maritime lawyer Sean Pribyl of Holland & Knight noted that a return to completely normal operations may take "weeks to months" depending on sustained security.

Bahreini also rejected claims that Iran had agreed to allow International Atomic Energy Agency (IAEA) inspectors back into the country, stating that nuclear discussions would take place in a later phase. He affirmed that Iran alone has the right to decide how to use its frozen overseas assets. Further technical consultations between the U.S. and Iran are ongoing in Switzerland, with the aim of resolving remaining ambiguities and establishing a conflict-resolution mechanism to keep the strait fully open.