US says Hormuz to be toll-free under Iran deal
A small motorboat passes anchored vessels in the Strait of Hormuz off Bandar Abbas, Iran, Thursday, June 11, 2026.(Amirhosein Khorgooi/ISNA via AP)
The United States said on June 16 that ships will move toll-free through the Strait of Hormuz under an Iran peace deal signed by President Donald Trump, and insisted Tehran would have to fulfill its commitments before getting any economic benefits.
They included a possible $300 billion reconstruction fund for the war-battered country, but the release of funds will be "tied to performance," a senior Trump administration official said in a call with reporters.
Trump, U.S. Vice President JD Vance and Iranian parliament speaker Mohammad Bagher Ghalibaf electronically signed the so-called memorandum of understanding (MoU) Sunday, the officials said.
