Seeking to ease concerns that Iran might start charging ships passing through the Strait of Hormuz, US President Donald Trump stated on Tuesday that Tehran had assured it would not impose any tolls, insurance fees, or other charges on vessels using the passage.
In a post on Truth Social, Trump said Iran had informed the US there would be “NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND” for ships transiting the key waterway.
He added that if this information proved incorrect, negotiations would be terminated immediately.
Speculation about possible shipping fees arose after reports and statements from Iranian officials suggesting Tehran could take a larger role in managing maritime traffic through the Strait of Hormuz amid ongoing talks. Discussions between Iranian and Omani representatives on maritime services contributed to expectations that transit charges might eventually be introduced. The strait handles around one-fifth of global seaborne oil trade and is considered one of the world’s most strategically important shipping routes.
Trump also denied reports that the US had transferred money to Iran during the negotiations, saying no funds had been released or given to Tehran.
Instead, he said the US intended to unfreeze certain Iranian assets under its control to finance purchases of American agricultural goods such as corn, wheat, and soybeans, with the funds directed toward US farmers and ranchers.
The plan forms part of wider discussions involving billions of dollars in frozen Iranian assets. US Vice President JD Vance said a proposed mechanism would allow limited access to these funds under strict oversight by the US and Qatar, ensuring they are used for approved purchases of American agricultural products rather than other purposes.
