Shipping through the Strait of Hormuz has resumed following a memorandum signed between the United States and Iran on June 19, 2026 [1].
The agreement is a critical step toward ending the war and stabilizing global energy flows. By lifting the U.S. naval blockade and easing sanctions, the deal seeks to restore trade in one of the world's most volatile maritime corridors.
As part of the immediate terms, Iran will waive transit fees for 60 days [2]. This move is intended to encourage the return of commercial traffic to the narrow waterway located between Iran and Oman [3]. The memorandum focuses on boosting regional trade, and ensuring that energy supplies can reach international markets without interference [4].
While ships are now transiting the strait, the stability of the arrangement remains a point of contention. Some reports indicate that Iran has reasserted control over the waterway and that a broader, more permanent deal remains elusive [5]. Despite these contradictions, the current memorandum represents a tactical shift to reduce military tension in the region [4].
U.S. officials and Iranian representatives have focused on the removal of the naval blockade as a primary condition for peace [4]. The resumption of traffic is seen as a test of the fragile peace currently taking hold between the two nations [1].
Further diplomatic efforts are expected to follow the June 19 signing to address the long-term status of sanctions [1]. The immediate priority for both parties remains the maintenance of open shipping lanes to prevent further economic disruption in the Middle East [3].
“Iran will waive transit fees for 60 days”
The resumption of shipping and the temporary fee waiver signal a tactical de-escalation, but the conflicting reports on Iranian control suggest the peace is precarious. Because the Strait of Hormuz is a global energy chokepoint, any failure to convert this memorandum into a permanent treaty could lead to sudden spikes in global oil prices and renewed military confrontation.
