U.S., Iran to Continue Consultations by End of June; 72 Ships Transit Strait of Hormuz in 24 Hours

According to U.S. Secretary of State Marco Rubio, the United States and Iran will continue technical consultations by the end of June (June 25). President Trump stated that Iran has agreed to terms, while the initial agreement includes $500 million for Iran to purchase U.S. goods.

Meanwhile, over 72 vessels transited the Strait of Hormuz in the past 24 hours, carrying approximately 20 million barrels of oil combined, according to the U.S. government. The International Maritime Organization disclosed an evacuation plan involving coordination between Iran, the U.S., and Oman. Gulf states are pushing for waiving strait passage fees, though Iran is expected to propose environmental, navigation, and security fees.