- Trump said there would be no tolls, insurance costs or charges of any kind for tankers looking to pass through the Strait of Hormuz.
- His comments come shortly after the U.S. and Iran signed an interim peace deal to bring an end to the conflict.
President
Donald Trump said Wednesday that Iran had informed him there would be no tolls, insurance costs, or charges of any kind for ships looking to pass through the strategically vital Strait of Hormuz.
"Additionally, no money has been given to Iran, or released from their money to them, by the U.S. We will be releasing some of their money, that is totally controlled by us, to our Farmers and Ranchers, for the purchase of Corn, Wheat, Soybeans, and more," Trump said in a post on Truth Social.
"Food is desperately needed in Iran, and we will be purchasing it for them exclusively from the United States," he added.
Iran has not yet commented on Trump's post.
The president's comments come shortly after the U.S. and Iran
signed an interim peace deal to bring an end to the conflict, although Washington and Tehran have continued to clash over some of the details of the 14-point memorandum of understanding (MOU).
Under the MOU, both sides agreed to reopen the Strait of Hormuz toll-free for at least 60 days and to end all hostilities, including in Lebanon, where fighting has persisted between Israel and Iran-backed Hezbollah.
The Trump administration has faced
criticism from Republican lawmakers for certain aspects of the deal, some of whom have raised concerns that the MOU represents a step in the wrong direction.
Shipping traffic through the Strait of Hormuz, a narrow waterway that typically handles around 20% of the world's oil traffic, was found to have stalled over the weekend.
Iran and Oman on Tuesday
said in a joint statement on Tuesday that they would start working on an agreement over the services relating to navigating the Strait of Hormuz, including "costs associated with them in accordance with international standards."
Located in the gulf between Oman and Iran, the Strait of Hormuz is recognized as one of the world's most important oil choke points.
Oil prices traded lower on Wednesday. International benchmark
Brent crude futures for August fell 3% to $74.75 per barrel, notching its lowest since the day before the U.S. and Israel launched airstrikes against Iran on Feb. 28.
U.S.
West Texas Intermediate futures for August were last seen nearly 3% lower at $71.03 per barrel.<small>Source: CNBC</small>
Business
Trump claims Iran has assured U.S. there won't be tolls on the Strait of Hormuz
CNBC
June 24, 2026
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