- Iran has agreed to reopen the Strait of Hormuz to commercial shipping as part of a two-week ceasefire agreement announced with the US.
- Iran intends to charge fees for ships transiting the Strait, arguing the tolls are necessary to cover the cost of damage inflicted by the recent conflict.
- This proposed toll system, which could reportedly net Iran millions of dollars, is opposed by the US and its Gulf allies and may be in breach of international maritime law.
- President Donald Trump suggested the US could be part of the toll deal, stating Washington and Tehran were “thinking of doing it as a joint venture”.
- Shipping companies have reacted cautiously, welcoming the pause in hostilities but warning that full trade resumption will take at least six to eight weeks due to underlying tensions and a backlog of vessels.
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