
Shipping
Iran Pledges No Tolls on Hormuz Shipping as Insurers Back Peace Deal
The International Union of Marine Insurance welcomed the U.S.-Iran Memorandum of Understanding and a joint Iran-Oman working group on Strait of Hormuz navigation. President Trump stated Iran informed the U.S. it seeks no tolls, insurance costs, or charges on commercial shipping. However, uncertainty persists over future navigation services and associated costs, with the MOU guaranteeing no tolls only for the first 60 days after implementation.























