President Donald Trump has stated that Iran has officially conveyed that it is not currently imposing any transit fees or insurance charges related to passage through the Strait of Hormuz. The President made this announcement via his social media platform, Truth Social, on October 24th (local time).
Contrary to some media reports, President Trump indicated that the Iranian government had informed the United States that it is not collecting any fees or insurance premiums from vessels transiting the Strait of Hormuz. However, President Trump emphasized that if this information proves to be false, any ongoing negotiations would be immediately terminated.
US Policy on Iranian Funds Clarified
Furthermore, President Trump asserted that the United States has never provided any funds to Iran or released any frozen Iranian assets. This statement addresses concerns about the potential repatriation of Iranian funds held abroad.
The President outlined a plan where a portion of Iranian funds, which are under complete US control, would be utilized to purchase agricultural products such as corn, wheat, and soybeans for the Iranian people. “Iran desperately needs food, and we will be the ones to buy only American-made food for them,” President Trump declared.
Strait of Hormuz Access and Prior Agreements
A previous Memorandum of Understanding (MOU) between the United States and Iran included provisions for the Strait of Hormuz to be reopened without fees for a period of 60 days, pending further negotiations. President Trump maintains that the strait should remain open and accessible without charge even after this initial period concludes.
Reports indicate that Iran, citing international legal standards, has expressed its intention to manage the strait unilaterally and has begun implementing practical measures to collect transit fees.
