US Iran Deal Opens Hormuz Shipping Toll-Free Route

The memorandum of understanding (MoU), electronically signed on Sunday by US President Donald Trump, Vice President JD Vance, and Iranian parliamentary speaker Mohammad Bagher Ghalibaf, outlines a broad framework for future negotiations between Washington and Tehran.

According to senior US officials, the agreement includes the possibility of a reconstruction package for Iran worth up to $300 billion, but any disbursement of funds would be strictly tied to verified performance under the deal.

Officials said the document is intentionally brief and general, with Vice President Vance acknowledging that the most complex issues—particularly Iran’s nuclear program—will be addressed in upcoming negotiations.

Vance told CNN that the MoU is a “page and a half” framework agreement that establishes guiding principles but leaves detailed technical matters for later discussions. He also said international nuclear inspectors would be permitted to return to Iran to oversee the dismantling of enriched uranium stockpiles.

The US administration said that no frozen Iranian assets have been released so far, and that any potential sanctions relief or financial access will depend on compliance with agreed conditions.

On the issue of the Strait of Hormuz, US officials said shipping is expected to move freely without tolls, with traffic gradually returning to pre-conflict levels over the coming weeks. However, Iran’s foreign ministry indicated it may still impose maritime service fees instead of tolls, suggesting differences remain over interpretation.

The agreement also sets a 60-day timeline for broader negotiations aimed at reaching a comprehensive settlement covering nuclear restrictions, sanctions, and regional stability.

Vice President Vance is expected to lead technical-level talks this week and attend a formal signing ceremony in Geneva, Switzerland, where further details of the agreement may be discussed.