Iran waives transit fees for Strait of Hormuz for 60 days

Tehran - Iran’s Supreme National Security Council (SNSC) has announced that vessels transiting the Strait of Hormuz will be exempt from fees for 60 days, in accordance with the Islamabad Memorandum of Understanding (MoU). In a statement released on Thursday evening, the SNSC said that applicants for passage through the waterway will not be charged for 60 days, with all costs to be borne by the Iranian government. The SNSC also stated that the Persian Gulf Waterway Authority (PGSA) has been directed to process and prioritise applications swiftly to support the implementation of the Islamabad MoU. According to the SNSC, special conditions and certain safety risks in the shipping lane require vessels to transit via designated routes and at specified times. The measure is necessary to ensure navigational safety, prevent maritime accidents, and allow a gradual increase in vessel traffic volume. Operational arrangements and technical details for passage through the Strait of Hormuz will be announced by the PGSA. The SNSC added that other steps, including mine clearance, will be carried out in accordance with the fifth paragraph of the Islamabad MoU.