E-Paper
Hormuz toll, shipping rule: Inside US-Iran peace deal that awaits Trump's final nod
Citing US officials, the report stated that among the key points of the deal is the reopening of the Strait of Hormuz.
Amid the negotiations and renewed strikes, the United States and Iran are reportedly close to signing a peace deal. As per a report by Axios, delegations from Washington and Tehran have closed down on all aspects of the deal, but a final approval from US President Donald Trump is awaited.
Citing US officials, the report stated that among the key points of the deal is the reopening of the Strait of Hormuz.
The Strait of Hormuz is a key passage for 20 per cent of the world's oil and gas supply. Shipping and vessel movement in the area have been restricted due to the ongoing conflict, which prompted Iran to close the strait.
Follow LIVE updates on the US Iran war
Furthermore, the US' naval blockade of Iranian ports has also impacted shipping and transit.
As per the report, the US-Iran peace deal will lead to unrestricted shipping through the key strait. US officials added that no tolls will be taken from ships for passage.
Iran has also been asked to remove all mines from the strait within 30 days of the deal coming into effect.
However, Washington will lift its naval blockade on Iranian ports in accordance with the restoration of shipping. Which means that if any movement is restricted, the US Navy will continue to block Iran.
The deal also adds that during the 60-day negotiation period, the US will discuss sanctions relief for Iran, including the release of certain frozen funds. Furthermore, a mechanism to allow Iran to receive humanitarian aid will also be discussed.
Where does the nuclear dispute stand?
Officials have stated that the memorandum of understanding between the US and Iran will also feature a commitment from Tehran not to pursue a nuclear weapon.
The remaining issues regarding the handover of Iran's enriched uranium and other details on the nuclear programme will be discussed during the 60-day period for a permanent deal.
The nuclear dispute has been a key sticking point between the US and Iran. It is also one of the reasons the US launched the joint strikes with Israel.
For years, both Israel and the US have stated that Iran's war is on the verge of developing a nuclear weapon. The US also struck Iran's key nuclear sites in 2025 during Tehran's 12-day war with Israel.
Trump admin hints at more strikes if deal is not reached
Speaking to reporters on Wednesday during a cabinet meeting, President Donald Trump, Secretary of State Marco Rubio and Secretary of War Pete Hegseth hinted at more strikes against Iran if a deal was not reached.
Trump also told reporters that if a deal was not reached, this “guy on my left,” referring to Hegseth, will “finish them off.”
“I think there’s been some progress and some interest, and we’ll see over the next few hours and days whether progress could be made,” said Rubio.
