Vice President J.D. Vance said Monday that he expects the U.S.-Iran deal to open the Strait of Hormuz without a toll system in the long term.
“Our hope is that the strait will be free and open for the long term, and that will be evident in the technical negotiations,” Vance said in an interview on CNBC.
Iranian state media announced that Hormuz would be open to free traffic for 60 days. The strait will then be controlled by Iran and Oman, according to Iran’s Tasnim news agency.
The United States and Iran are scheduled to sign a deal to end the conflict in Switzerland on Friday. President Donald Trump said the deal would open Hormuz toll-free in exchange for the US lifting its naval blockade against Iran.
Mr Vance said ship traffic passing through Hormuz had already increased in the past 24 hours. CNBC could not immediately verify these claims.
The CEO of oil tanker company Frontline told CNBC on Monday that he believes “once the deal is signed, the vessels will start moving very quickly.” Lars Barstad said: “We would have liked to see clearer wording regarding the traffic protocols, but we hope that will be achieved in the coming days.”
Frontline operates a fleet of 80 vessels worldwide. Five tankers are stranded in the Persian Gulf.
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