60-Day Toll-Free Hormuz Window in US-Iran Deal, Trump Questions the Limits of a Document

The memorandum of understanding with Iran confirms toll-free passage through the Strait of Hormuz for 60 days and notes that fees could be applied later; Trump downplayed the step, saying you can’t cover everything in a document and that common sense will prevent tolls, even as Iran says it will start charging after 60 days. The toll-free window, along with related controls and plan to manage traffic, is expected to keep shipping well below prewar levels (roughly 40% within a month). The announcement contributed to a drop in crude prices and energy markets. The memo also mentions sanctions relief prospects, a minimum standard for uranium dilution, and Lebanon’s territorial integrity, while Iran and Oman discuss new traffic-oversight authorities. Sanctions relief and asset unfreezing remain on the table pending the deal’s signing.