Iran has reportedly agreed to allow ships to pass through the strategically vital Strait of Hormuz without charging transit fees as part of a potential agreement with the US.

The reported arrangement could mark a significant step toward easing tensions in one of the world's most critical energy shipping corridors, through which a substantial share of global oil and gas exports passes, The Caspian Post reports via Fox News.

According to the report, the agreement would involve a phased process. The US would first lift its blockade measures, while Iran would reopen the Strait of Hormuz to maritime traffic. Only after both steps are completed would efforts begin to clear mines from the waterway.

The Strait of Hormuz is a crucial gateway connecting the Persian Gulf with international markets, making any development affecting its operation closely watched by governments, energy traders, and global shipping companies.