U.S. and Iran Move Toward Formal Signing Amid Friction Over Strait of Hormuz Fees

The interim agreement between the United States and Iran has officially entered its implementation phase as of June 18, 2026. The pact requires Iran to dilute its stockpile of highly enriched uranium under international supervision and provides a 60-day window of restricted maritime fees in the Strait of Hormuz. President Trump has publicly defended the arrangement as a path toward lower oil prices and regional stability, though he issued a stern warning that the U.S. would resume bombing and blockades should Tehran breach its commitments. A formal follow-up session is scheduled to take place in Switzerland, with Vice President JD Vance expected to represent Washington. Despite the lull in hostilities, significant friction remains regarding the deal’s long-term durability. Iran’s chief negotiator, Mohammad Bagher Ghalibaf, stated that Tehran intends to begin charging ships crossing the Strait of Hormuz once the initial 60-day grace period expires, asserting that the waterway will not return to its "pre-war" status. Additionally, domestic critics in the U.S. have characterized the sanctions relief included in the deal as overly favorable to Iran, while geopolitical tensions persist regarding proxy conflicts. Reports indicate that Israel does not intend to withdraw from southern Lebanon, a move that may test the boundaries of the current U.S.-Iran framework.