Iran says no Hormuz transit fees during 60-day negotiation window with US

TEHRAN -- Iran said on Friday it will waive Strait of Hormuz transition fees during a 60-day negotiation period with the United States following the signing of the memorandum of understanding.

Iran's Persian Gulf Strait Authority said that, in light of the MoU, passage through the Strait of Hormuz will be granted to vessels that submit requests in compliance with the necessary requirements.