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Iran Forms Strait Authority, Waives Hormuz Fees for 60 Days

6/20/2026

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Summary

Story summary

Iran created the Persian Gulf Strait Authority to oversee all transits through the Strait of Hormuz and consider future tolls.
Iran now requires vessels to obtain permission and insurance before crossing, but waives fees for 60 days.
The waiver stems from a memorandum of understanding with the United States that makes the period free.
Iran also mandates a prescribed route and forbids any alternative passages.

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Story summary

Iran created the Persian Gulf Strait Authority to oversee all transits through the Strait of Hormuz and consider future tolls.
Iran now requires vessels to obtain permission and insurance before crossing, but waives fees for 60 days.
The waiver stems from a memorandum of understanding with the United States that makes the period free.
Iran also mandates a prescribed route and forbids any alternative passages.