As the end-of-war negotiations between the United States and Iran enter the final stage, the 'Strait of Hormuz transit rights' have emerged as a major sticking point alongside the nuclear issue. The US, which insists on restoring the natural waterway of the Strait of Hormuz to a maritime zone where free navigation is guaranteed as it was before the war, is clashing head-on with Iran, which has effectively blockaded the strait and used it as a negotiating lever, over the imposition of transit fees and the maintenance of control.

[United States] "Open Waterway Without Transit Fees"... Suggests Possibility of Resuming Military Intervention US Secretary of Defense Pete Hegseth emphasized at a press conference following the Singapore Asia Security Summit (Shangri-La Dialogue) on the 30th (local time), "The Strait of Hormuz will be an open waterway without transit fees," adding, "It must be freely accessible to the whole world." He also indicated the possibility of resuming military intervention if the negotiations break down.

President Donald Trump also previewed a White House Situation Room meeting, presenting the complete opening of the strait as one of the top priorities for an end-of-war agreement. On the 27th, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) added Iran's newly established 'Persian Gulf Strait Authority (PGSA),' ostensibly created to manage strait transit, along with cooperating individuals and organizations, to its sanctions list. It subsequently stated that US persons are prohibited from entering into any agreements with Iran for the purpose of transiting the strait, regardless of whether transit fees are paid.

[Iran] Promoting Transit Fees of Up to $2 Million per Vessel... "Strategy to Secure Post-War Funding" Iran is pushing a plan to impose transit fees of up to $2 million per vessel through the PGSA. However, it is allowing the passage of vessels from allied nations following separate negotiations. In fact, it is known that during the early stages of the war, some large foreign-flagged oil tankers remaining in the Persian Gulf were able to exit the strait through negotiations with Iran. Observers suggest that Iran, facing massive post-war reconstruction costs, initially demanded 'war reparations,' but shifted its strategy to focus on securing transit fees and maintaining control over the strait when the US found this difficult to accept.

• *[Draft MOU] Denuclearization Agreement Within 60 Days... Restoration of Transit Volume Within 30 Days**
• According to US media reports, the draft memorandum of understanding (MOU) to end the war reportedly includes the following provisions:
• Complete opening of the Strait of Hormuz
• 60-day extension of the ceasefire
• Reaching an agreement on Iran's denuclearization within the extension period
• Restoration of transit volume to pre-war levels within 30 days

However, the gap between the two sides' positions regarding the method of transit and control remains large, raising the possibility that conflicts will continue during the implementation process even after the MOU is signed.

[Military Tension] Localized Clashes Continue Outside the Negotiation Table Separate from the negotiations, military tensions between the two countries persist. The US military stated that on the 27th, it conducted airstrikes on Iranian military facilities deemed to pose a threat to commercial shipping in the Strait of Hormuz, shooting down four Iranian attack drones. Previously, on the 25th, US Central Command explained that airstrikes were carried out targeting Iranian vessels attempting to lay sea mines and missile launchers near the strait.