Iran announces plans to bring in maritime fees for strait of Hormuz

Iran announced plans to implement a system of maritime fees in the Strait of Hormuz, with the charges set to take effect following a 60-day negotiation period. This decision follows the signing of a memorandum of understanding, which Tehran views as a historic victory over the United States. Iran asserts its control over the Strait of Hormuz and has indicated that a proposed European naval mission to escort ships through the waterway will not be welcomed. The fees are intended to cover the costs associated with managing the strait. The announcement was made on June 18, 2026, and the negotiations are expected to conclude by August 17, 2026, at which point the new fee structure will be implemented.