U.S. Central Command says American forces have lifted a blockade on ships entering and leaving Iranian ports and coastal areas, a step taken under a newly signed ceasefire agreement between the U.S. and Iran. The pause in restrictions starts a 60-day period during which negotiators aim to finalize a broader deal.
As part of the memorandum, Iran has agreed to allow commercial oil tankers to transit the Strait of Hormuz without charge for 60 days. The strait had carried roughly 20% of the world’s oil before the conflict began. After the 60-day period, Iran — together with Oman and other Persian Gulf states, the agreement says — will determine “future administration and maritime services.” Iranian officials have indicated they may seek to impose service fees, a step industry analysts say would be legally questionable on an international waterway.
When commercial traffic will return in significant numbers remains uncertain. Fear of mines reportedly placed by Iran has kept many ships away; U.S. and allied forces are continuing mine‑clearing efforts in the area. The U.S. Navy also remains present in the region to help ensure compliance with the ceasefire terms.
The memorandum also removes U.S. sanctions on Iranian oil exports for the duration of the deal, allowing Iran to resume shipments through the strait. U.S. officials say the move is part of a temporary arrangement designed to stabilize energy flows while talks proceed.
Vice President Vance, who is leading the U.S. negotiating team, defended the memorandum at a White House briefing and said he expects to travel to Switzerland soon to continue discussions. He argued the U.S. “holds all the cards” and that Iran will not fully benefit from the arrangement until it demonstrates sustained changes in behavior. Vance framed the decision to lift the blockade as restoring a prior state of commerce, saying Iran had sold oil for years before the blockade was imposed.
The agreement is summarized in a 14‑point memorandum that outlines the ceasefire and next steps but leaves several difficult issues unresolved. Among the open questions: the memo extends the ceasefire to Lebanon, which would require cooperation from Israel despite that country not being a party to the agreement. The document also calls for creation of a $300 billion fund for reconstruction and economic development in Iran in coordination with regional partners; specifics of that fund are to be worked out within 60 days.
Negotiators have likewise slated for the coming two months detailed arrangements for lifting sanctions more broadly and for handling Iran’s stockpiles of enriched nuclear material. Those topics remain among the most contentious and will be the focus as the 60‑day deadline approaches.
