Trump claims Iran agreed on ‘no Hormuz toll’, says frozen funds to be used to purchase American agricultural products

In a move aimed at stabilising global energy markets, US President Donald Trump has assured that Iran has agreed not to impose transit charges on vessels navigating the vital Strait of Hormuz.

“Iran has informed us that there will be ‘NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND’ on commercial shipping,” Trump claimed in a social media post on X.

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The US President further added that he would “immediately end” negotiations with Iran if it charges toll from commercial ships passing through the chokepoint waterway that facilitates nearly 20 per cent of global oil trade.

“If this is false information, negotiations would end, immediately!” he added.

US to control frozen Iranian assets after release

Denying that any “liquid funds” or cash had been transferred or released to the Iranian government, he outlined a new, tightly controlled mechanism for handling the billions in assets held under U.S. jurisdiction.

According to the administration’s plan, frozen funds will be used exclusively to bankroll the procurement of American agricultural commodities, specifically corn, wheat, and soybeans, which are intended for the Iranian public.

“We will be releasing some of their money, which is totally controlled by us, to our farmers and ranchers,” Trump explained, noting that the supplies are “desperately needed” within Iran.

The framework for this delicate financial manoeuvre was detailed by US Vice President JD Vance following high-level discussions in Burgenstock, Switzerland.

The mechanism, conceptualised by Jared Kushner, involves a collaborative oversight process with Qatar to prevent the potential diversion of funds.

“We wanted to make sure that we set up a process where if we ever unfreeze Iranian assets, we can ensure that money goes to help the people of Iran and not to fund terrorism,” Vance stated.

Under this system, any release of capital requires joint clearance from both US and Qatari authorities, ensuring that the liquidity is strictly tied to humanitarian purchases rather than state-backed military or militant operations.