Iran told US “NO TOLLS” in Hormuz, “negotiations would end” on “false information”: Trump

The Strait of Hormuz, a global maritime chokepoint that facilitates nearly 20% of the world’s seaborne oil trade, has been a source of volatility following reports of potential Iranian regulation of traffic. Seeking to calm industry fears, President Trump took to Truth Social to relay the commitment from Tehran. “Iran has informed us that there will be ‘NO TOLLS, NO INSURANCE COSTS, & NO OTHER CHARGES OF ANY KIND’ on commercial shipping,” the President stated. He underscored the gravity of the pledge with a clear diplomatic ultimatum: “If this is false information, negotiations would end, immediately!”

President Trump also utilised the platform to address mounting domestic speculation regarding the status of frozen Iranian capital. 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.       While the administration’s rhetoric signals a distinct approach, the structural logic of the plan mirrors the humanitarian carve-outs established under previous administrations, such as the 2023 agreement that directed frozen assets in South Korea toward food and medical supplies. By framing the current initiative as a benefit to American agricultural exporters while addressing humanitarian needs in Iran, the Trump administration seeks to bypass the political polarisation often associated with sanctions relief.