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Marco Rubio tours Gulf as US‑Iran deal reopens Strait of Hormuz
The United States and Iran signed a memorandum of understanding that ends the four‑month war and pledges to keep the Strait of Hormuz open for international shipping. The agreement includes a 60‑day window for further negotiations, a proposed $300 billion reconstruction fund for Iran, and a commitment that Iran will not levy transit fees on vessels.
Following the deal, vessel traffic through the strait has begun to resume, with dozens of tankers and commercial ships passing daily and Iran exporting a record amount of oil, including three super‑tankers carrying six million barrels on a single day. The United Nations International Maritime Organization launched an evacuation operation to free more than 11,000 sailors and hundreds of stranded ships trapped in the Gulf since the closure.
U.S. Secretary of State Marco Rubio started a three‑day Gulf tour, visiting the United Arab Emirates, Kuwait and Bahrain to reassure allies about the deal, address concerns over the reconstruction fund and Iran’s missile program, and stress that no country can charge tolls on the international waterway. Gulf states remain wary, but the reopening has already driven oil‑price declines and sparked expectations of lower airline fuel costs.