US : Ships will pass through the Strait of Hormuz without tolls: US

 Ships will pass through the Strait of Hormuz without tolls: US

Under the Iran peace deal signed by President Donald Trump, ships will not have to pay any tolls for transiting the Strait of Hormuz. Washington has also made it clear that Tehran must fulfill all of its commitments under the deal before any economic benefits are granted to Iran.

A senior US administration official told reporters that there is also a proposal to create a fund of potentially $300 billion for the reconstruction of war-torn Iran. However, the money will be released based on Iran's progress in implementing the deal.

On Sunday, US President Donald Trump, Vice President J.D. Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf signed a memorandum of understanding (MOU) electronically.

A US official, speaking on condition of anonymity, said, "President Trump signed the agreement himself to send a message of his commitment to the peace process."

However, Vice President J.D. Vance said the agreement was very brief and left complex issues such as Iran's nuclear program for later negotiations.

"The memorandum of understanding is just a page and a half of a document," Vance told CNN.

Vance later said in an interview with NBC that U.S. and international nuclear inspectors would be allowed back into Iran to help destroy Iran's stockpile of enriched uranium.

Vance will lead expert-level talks this week to finalize the terms of the deal and will attend the formal signing ceremony in Geneva, Switzerland.