Iran To Charge To $2 Million From Ships Passing Through Strait of Hormuz Under New Ceasefire Rule

After the United States President Donald Trump announced a two-week extension to a full-scale military operation, Iran, under the new ceasefire framework, will charge a $2 million fee from ships passing through the Strait of Hormuz.

According to Reuters, this will be a “controlled transit” system coordinated with the Iranian armed forces.

A draft bill was approved by Iran’s Parliament on Tuesday to formalise the toll. This revenue will go toward rebuilding the country following US and Israeli strikes, AP reported.

An hour before the deadline to start catastrophic attacks, Trump said on Truth Social that “Subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz, I agree to suspend the bombing

and attack of Iran for a period of two weeks.”

He called the decision a “double-sided ceasefire” after Pakistan Prime Minister Shehbaz publicly requested him to extend his deadline by two weeks, while urging Iran to reopen the strategic Strait of Hormuz, which has been shut due to the ongoing war.

The first ultimatum was for five days, but he extended it by 10 more days late last month. The latter deadline was then supposed to expire on Monday before Trump’s latest delay. Thus, Trump’s original 48-hour ultimatum has stretched to 408 hours now.

What Did Iran Say In 10-Point Plan?

Iran’s Supreme National Security Council said it submitted its 10-point proposal to the United States via Pakistan, in which it sought controlled transit through the Strait of Hormuz in coordination with the Iranian armed forces, ending the war against Iran and allied groups, and the withdrawal of US combat forces from all regional bases.

Iran also demanded full payment of damages to Iran, lifting of all primary and secondary sanctions and the release of all of Iran’s blocked assets. “It should be noted that the approval of this resolution will turn all these agreements into binding international law and will create a major diplomatic victory for the Iranian nation,” the council said in a statement.

Iran, however, stressed that the talks did not mean the end of the war, adding, “Iran will only accept the end of the war once the details are finalised in the negotiations, given the acceptance of the principles set forth in the 10-article plan.”