Washington: U.S. President Donald Trump announced on Saturday that vessels passing through the Strait of Hormuz will not face any transit fees after the current 60-day period ends. This decision comes as part of a broader strategy concerning the crucial maritime passage.

According to Iraqi News Agency, Trump made it clear that any potential transit fees in the future would only be imposed by the United States and strictly for its benefit. This statement highlights the U.S. administration’s approach to controlling and benefiting from strategic international waterways, particularly the Strait of Hormuz, which is a critical route for global oil transportation.

This announcement is likely to impact international maritime policies and could influence the economic dynamics of the region. The Strait of Hormuz, being a vital corridor for oil exports from the Middle East, remains a focal point in global trade discussions. The absence of transit fees may ease tensions and facilitate smoother navigation for international vessels in the area.