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Mohammad Bagher Qalibaf, Iran’s Parliament Speaker and top negotiator, has confirmed that the toll-free passage through the Strait of Hormuz granted under a memorandum of understanding with the United States will last only 60 days.
After that window closes, Iran intends to start charging service fees for commercial vessels transiting the strait.
What the deal actually says
The MoU was signed around June 18-19, 2026, in Switzerland as part of broader nuclear discussions between the US and Iran. The agreement reopens the strait for commercial shipping without fees during a limited interim period, designed as a confidence-building measure between two nations that have spent years escalating tensions in the region.
Qalibaf framed the arrangement as evidence of Iran’s commitment to structured oversight of maritime traffic. He emphasized safe passage measures, including establishing a communication line to prevent maritime incidents, and pointed to international maritime law as the foundation for Iran’s position.
Qalibaf also made clear that Iran has no intention of returning to what he characterized as pre-war conditions. The Strait of Hormuz is roughly 21 miles wide at its narrowest point, and it handles a massive share of the world’s seaborne oil trade.
The geopolitical chess match
The US has already expressed disapproval of Iran implementing transit fees after the initial period lapses. Oman and other regional actors have weighed in too, emphasizing the principle of free transit during subsequent negotiations. Oman’s position matters here because it shares control of the strait’s shipping lanes with Iran.
The MoU itself reportedly involves discussions at the highest levels of the US government, including President Trump and VP Vance, with formal elements hashed out during mid-June 2026 meetings in Switzerland.
Why crypto and energy investors should care
The 60-day countdown from mid-June 2026 puts the expiration somewhere around mid-August. Once the 60 days lapse, markets will need to price in the possibility of Iran actually implementing transit fees on commercial shipping.
On the crypto side, the US has concurrently maintained sanctions against Iranian crypto exchanges, including Nobitex, as part of its economic pressure campaign. These sanctions are formally unrelated to the Hormuz arrangements, but they underscore how intertwined financial warfare and diplomatic negotiations have become. The sanctions regime limits Iranian access to global digital asset liquidity.
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