"Early indications suggest this may depend on Iran clearing naval mines over an initial 30-day period."

The US and Iran are nearing a deal to reopen the Strait of Hormuz under a 60-day ceasefire, with Iran exploring Bitcoin for transit fee payments.

Trump announces that a ceasefire deal with Iran has been agreed, and that the Strait of Hormuz will reopen for shipping.

Trump announces that a ceasefire deal with Iran has been agreed, and that the Strait of Hormuz will reopen for shipping.

Mine-clearing operations, infrastructure repairs and security guarantees may be required before commercial traffic fully resumes at the Strait of Hormuz. | World News

Trump signals immediate opening of the geopolitically sensitive strait

US President Donald Trump says oil tankers would be able to navigate the Strait of Hormuz toll-free, but many details of the deal with Iran are yet to be ironed out.

The agreement will extend ceasefire by 60 days, reopen the Strait of Hormuz and begin nuclear negotiations

Tehran says broader negotiations will continue during a 60-day ceasefire period

US and Iran agree to a preliminary deal reopening the Strait of Hormuz with a 60-day ceasefire, lifting the naval blockade, and ending Iran's crypto toll

Iran will reportedly allow free passage through Strait of Hormuz for 60 days, but may collect fees in future.

"Early indications suggest this may depend on Iran clearing naval mines over an initial 30-day period."

Iran offers 60-day toll-free transit through the Strait of Hormuz during ceasefire talks, while launching a bitcoin-settled maritime insurance platform.

According to the publication, following this 60-day period, Iran intends to offer services in the areas of security, navigation, environment, and insurance

Even if the strait fully opens then, it will likely take months for the global energy crisis sparked by its closure to ease.