The US and Iran just signed a deal that could funnel tens of billions of dollars into Tehran’s coffers annually. The mechanism is deceptively simple: charge ships to pass through one of the most important waterways on the planet.
The memorandum, signed on June 18-19 by President Donald Trump and Iranian President Masoud Pezeshkian, lifts the US naval blockade of the Strait of Hormuz and reopens commercial shipping through the chokepoint. Roughly 20% of the world’s oil supply passes through this narrow channel between Iran and Oman.
The 60-day clock is ticking
Passage through the strait is toll-free for the first 60 days. After that, Iran plans to impose service fees on maritime traffic, a revenue stream Tehran estimates could generate up to $40 billion annually.
The deal also unlocks access to approximately $300 billion in frozen Iranian assets and includes oil export waivers as part of broader sanctions relief. A two-month window for nuclear discussions is baked into the agreement.
