US Vice President JD Vance skirted questions about whether Iran will one day be able to charge fees for vessels crossing the Strait of Hormuz, a critical concern for the oil and shipping industries as well as Gulf producers as the chokepoint opens up to traffic again.
The US and Iran on Wednesday signed a memorandum of understanding that offers “safe passage of commercial vessels with no charge” for 60 days. After that, it lays out a plan for a dialogue between Iran and Oman to define future administration and maritime service in the strait with other Persian Gulf nations.
