Iran announced it will begin charging fees for ships transiting the Strait of Hormuz, a vital global oil artery. This decision follows the expiration of a 60-day waiver period granted under a previous memorandum of understanding with the United States. The head of Iran’s negotiating delegation confirmed the reimposition of the fees, without specifying the amount or exact implementation details. The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and the Arabian Sea, and is crucial for global energy supplies. This move could potentially raise shipping costs and increase tensions in the region. The previous waiver was likely linked to ongoing negotiations and de-escalation efforts. Analysts suggest this action may be a response to continued sanctions or a bargaining tactic.