Iran says it will waive fees for Hormuz during 60 day negotiation period

Dubai: Iran's Strait of Hormuz body said on Friday it would waive planned fees to use ‌the strait ⁠during ⁠a 60-day negotiation period under the memorandum of understanding signed with the United States this week.

Ships seeking ​passage through ⁠the strait ‌while the ​interim agreement ​is in force ⁠must submit transit requests at ​least 48 hours before ​arrival, Iran's Persian Gulf Strait Authority (PGSA) said in a notice.

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Iran would waive ‌fees for security, safety, environmental services and ​related ​insurance during ⁠the period, while requiring vessels to coordinate routes and transit ​times in advance due to areas affected by mines and to ensure safe navigation.