Strait of Hormuz 60-Day Toll Waiver, Conditions for Unfreezing Iran's Assets Discussed

The United States and Iran have completed the electronic signing of a Memorandum of Understanding (MOU) that includes a 60-day toll exemption for passage through the Strait of Hormuz. The two countries electronically signed the MOU on the 15th (local time) under the names of U.S. President Donald Trump, U.S. Vice President J.D. Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf, with an official signing ceremony planned for the 19th in Geneva, Switzerland.

This MOU stipulates that the Strait of Hormuz will be open without tolls for 60 days, with the maintenance of a long-term toll-free principle to be discussed in future technical negotiations.

The U.S. plans to consider sanctions relief and the release of frozen assets if Iran takes implementing measures such as removing highly enriched uranium and accepting a verification regime, stating there will be no immediate fund disbursement. Whether Iran's frozen assets will be released will be determined in phases based on Iran's future actions.

Following the news of the agreement, the three major New York Stock Exchange indices closed higher on the 15th (local time), while Brent and WTI crude futures prices fell 4.9% respectively, marking their lowest levels in three months.