A final-draft Iran–US memorandum was reportedly revised to “clearly and
unambiguously” state that Iran and Oman exercise management authority over the
Strait of Hormuz. The latest text says future management of maritime shipping
services in the strait will be decided jointly by Iran and Oman and uses the
maritime term shipping services, which the report says effectively recognizes
Iran’s right to charge passing vessels. Under the text Iran agreed only to a
60‑day free transit period; after that it plans to collect revenue from
commercial ships transiting the strait by providing services including
navigation safety, maritime assurance, environmental protection and insurance,
with proceeds earmarked for national economic development. The report says Iran
coordinated with Oman; it did not explain the 60‑day grace period.
