U.S. President Donald Trump said on Wednesday that Iran had assured Washington that no tolls, insurance fees or any other charges would be imposed on vessels passing through the Strait of Hormuz, one of the world’s most strategic maritime corridors.
In a post published on his Truth Social platform, Trump stated that Tehran had informed the United States that reports suggesting the introduction of transit fees in the Strait of Hormuz were inaccurate.
The U.S. president warned, however, that if those assurances proved to be false, ongoing negotiations between the two countries would come to an immediate end.
Trump also announced that Washington plans to release part of Iran’s frozen assets to finance the purchase of U.S. agricultural products. According to the president, the funds would be used to buy corn, wheat, soybeans and other American-produced commodities.
He argued that the measure would help address Iran’s food needs while providing support to U.S. farmers and livestock producers.
Under the terms of the memorandum of understanding recently concluded between Washington and Tehran to end the regional conflict, commercial vessels are expected to transit the Strait of Hormuz free of charge during an initial 60-day period.
