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US and Iran Sign a Deal — Oil Tankers Move Freely Through Strait of Hormuz Again
The Hindu·Friday, 19 June 2026
The US and Iran signed a digital agreement, and the US lifted its blockade of Iran on June 18, allowing oil tankers to move freely through the Strait of Hormuz. US Vice President JD Vance postponed a Switzerland visit as talks continued, and the planned June 19 talks were later called off, according to Switzerland. Iran has also reportedly announced plans to charge maritime transit fees in the strait after a 60-day negotiation window.
Why It Matters
The Strait of Hormuz is one of the world's most critical oil shipping routes — any disruption or new fees there affect global crude prices, which directly hit fuel costs in India.
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