Overview
The second phase of the Iran-U.S. standoff is now centred on the future of the Strait of Hormuz. A MoU signed on 14 June 2026 promised free passage for 60 days, but subsequent actions by Iran have reshaped the legal and commercial landscape.
Key Developments
- On 14 June 2026, Iran and the United States signed a MoU allowing ships to transit the strait without charge for 60 days.
- Two days later, the newly created Persian Gulf Strait Authority (PGSA) issued its own terms, re‑asserting itself as the nodal transit authority.
- PGSA now requires every vessel to obtain a transit permit and carry PGSA‑approved insurance. Fees are waived for now but are earmarked for future collection.
- Iran pledged to work with Oman to define long‑term administration and maritime services in the strait.
Important Facts
- The 60‑day free‑pass clause applies only to the period immediately after the MoU signing.
- PGSA’s permit and insurance regime is a legal outcome of the MoU, not a separate bilateral agreement.
- Shipowners are now paying a “logical” toll, accepting the new regime to avoid disruption of oil shipments.