Trump Says Strait of Hormuz Will Be 'Permanently Toll Free' Under Iran Deal
President Donald Trump stated that his agreement with Iran would ensure the Strait of Hormuz remains 'permanently toll free,' according to a New York Times report.
US President Donald Trump has claimed that the agreement reached with Iran will guarantee that the strategic Strait of Hormuz is 'permanently toll free.' The statement was reported by the New York Times.
While details of the purported deal remain unclear, the Strait of Hormuz is a critical chokepoint for global oil shipments, with nearly a fifth of the world's petroleum passing through it daily. Trump's assertion suggests a possible easing of tensions that could impact energy markets.
No further specifics were provided by the White House on the mechanics or timeline of such an arrangement.
Source: FXStreet Forex News