A senior Trump administration official said ships would be able to pass freely through the strategic waterway under the agreement signed electronically by US President Donald Trump, Vice President JD Vance and Iranian officials.

The deal is part of a 60-day framework aimed at reaching a broader settlement, including on Iran’s nuclear programme, though US officials acknowledged that major issues remain unresolved.

Washington said Iran could eventually access reconstruction funds and sanctions relief, potentially linked to a $300 billion support package, but insisted that disbursements would depend on verified compliance.

US officials said international nuclear inspectors would be allowed back into Iran to oversee the handling of enriched uranium as part of the agreement’s technical phase.

However, Iranian officials signaled a different interpretation, saying the deal would allow the country to impose maritime service fees rather than eliminate charges entirely.

US officials added that no frozen Iranian assets have been released so far, and any future economic measures would be strictly conditional.

Shipping traffic through the Strait of Hormuz, a key global energy route, is expected to gradually return to normal levels over the coming weeks as technical arrangements are implemented.

The limited movement highlighted continued caution among shipping companies, which welcomed the agreement but are awaiting further details, including safety measures and possible mine clearance operations in the strait.

Global oil prices fell about 4 percent on Monday as markets reacted to expectations that the United States and Iran would formally sign a memorandum of understanding in Switzerland outlining steps to resume shipping.The Strait of Hormuz, a vital route for global energy supplies, has seen sharply reduced traffic since the conflict between the United States, Israel and Iran began on February 28.

The LNG tanker Disha, carrying a cargo from Qatar’s Ras Laffan, had remained west of the strait before crossing, according to data from Kpler and LSEG. The shipment is expected to be delivered to India’s Dahej terminal, a source familiar with the matter said.

Shiptracking data showed about 155 oil and chemical tankers were in the Middle East Gulf area on June 15, down from 201 at the end of May.Shipping analysts said confidence would likely return gradually as vessels resume regular movements through the waterway.

Anoop Singh, global head of shipping research at Oil Brokerage, said wider shipping activity would need time to recover and freight rates could remain elevated while operators assess risks.The Japanese Shipowners’ Association said it welcomed the agreement but wanted more concrete information before recommending that vessels return to normal operations.

Japanese shipping companies also said they would only resume navigation after safety conditions were fully confirmed.The Strait of Hormuz handles a significant share of global oil and LNG shipments, making its reopening a key factor for energy markets and international trade.

Aditya Sharma, a cadet, Shivanand Chaurashiya, a fitter, and Patnala Suresh, a chief engineer, were killed aboard the Palau-flagged MT Settebello after a US aircraft fired at the tanker’s engine room last week, according to the Forward Seamen’s Union of India.

The Indian Ministry of External Affairs summoned the US envoy in New Delhi to register a protest, but the US Department of State said Secretary of State Marco Rubio told India’s foreign minister that commercial vessels must comply with US military orders and that violations of the American blockade around the Strait of Hormuz would not be accepted.

The statement triggered criticism from Indian opposition lawmakers, who said Washington had failed to acknowledge the loss of Indian lives.

Rahul Gandhi, leader of India’s opposition, said there was no expression of regret or apology following the deaths. Congress lawmaker Shashi Tharoor also criticised the US response, calling the absence of condolences over the deaths of Indian sailors deeply concerning.

The Forward Seamen’s Union of India said a fourth sailor, second officer Nishanth Uirthanathan, died from medical complications aboard the MT Celestial off Oman after the vessel was unable to reach medical facilities.

The union said many Indian sailors remained stranded in the region because of restrictions linked to the US blockade. Manoj Yadav, the union’s secretary-general, said some vessels faced shortages of food, drinking water and medical supplies.

The incidents occurred amid rising tensions between the United States and Iran around the Strait of Hormuz, where thousands of Indian nationals work aboard commercial ships.

US Central Command said the vessels involved had failed to comply with instructions from American forces, while the manager of MT Settebello rejected the claim, saying there had been no communication before the strike.

The union said three commercial vessels carrying Indian crew were attacked by US forces during the previous week, increasing concerns over maritime safety in the region.

India’s Ministry of Ports, Shipping and Waterways said a fire broke out at around 1:30 p.m. local time aboard the Palau-flagged tanker MT Marivex while it was operating off Oman’s coast.

“There has been a fire reported on a vessel, MT Marivex, on which there were 24 Indian seafarers. All Indian seafarers are safe,” ministry director Opesh Kumar Sharma told reporters.

Images shared by the Forward Seamen’s Union of India showed Indian Navy helicopters winching crew members from the vessel as thick black smoke engulfed parts of the ship, including the bridge and accommodation block.

Ship-tracking data from MarineTraffic showed the tanker south of Oman’s capital, Muscat, at the time of the incident.

Authorities did not disclose the cause of the fire or provide details on damage to the vessel.

The rescue comes amid heightened maritime tensions in the region, where shipping routes have faced disruptions since the outbreak of conflict involving Iran, the United States and Israel earlier this year.

India’s foreign ministry on Monday reiterated concerns over the regional conflict, saying it had caused significant human suffering and disrupted global energy supplies and economic activity.

The ministry said 25 Azerbaijani nationals were among the crews of the vessels struck in Taganrog Bay, adding that neither ship belonged to Azerbaijan.

Earlier, Ukraine said its drones had hit five vessels in the ports of Mariupol and Berdyansk and in nearby coastal waters under Russian control.

Robert Brovdi, commander of Ukraine’s drone forces, said the targeted ships included dry cargo vessels and a tanker allegedly involved in transporting military cargo, fuel and Ukrainian grain.

The attacks mark one of the deadliest incidents involving foreign civilian crew members in the conflict’s maritime zone this year.

The centre said the object was sighted west of the Inshore Traffic Zone in the Strait of Hormuz and urged maritime users to maintain a safe distance from any suspicious objects and immediately notify relevant authorities.

In a statement, the Maritime Security Centre described the object as a suspected sea mine and advised vessels operating in the area to remain vigilant while transiting through Omani waters.

No injuries, damage to vessels or disruptions to shipping traffic were reported by the centre. Authorities did not provide further details on the nature of the object or any ongoing assessment and recovery operations.

The warning comes as maritime security remains under close scrutiny in the Strait of Hormuz, a critical waterway linking the Gulf with international shipping routes. Any potential navigational hazard in the area is closely monitored by regional authorities due to the strategic importance of the passage for commercial and energy shipments.

The Maritime Security Centre reiterated its call for maritime operators, fishermen and other sea users to report suspicious objects immediately and to follow safety guidance issued by authorities while operating in the vicinity of the reported sighting.

“At this point, we take a cautious approach, and we are not making any changes to specific services,” the Danish container group said in a statement to Reuters.

The conflict, which escalated following U.S.-Israeli strikes on Iran in February and subsequent Iranian retaliation, led to the closure of the Strait of Hormuz and brought Gulf shipping activity close to a standstill, disrupting global supply chains.

Maersk, one of the world’s largest container shipping companies, had suspended cargo bookings to several Gulf ports last month and introduced emergency bunker fuel surcharges globally to offset rising fuel costs.

“The ceasefire may create transit opportunities, but it does not yet provide full maritime certainty and we need to understand all potential conditions attached,” the company said.It added that any decision to resume transit through the strait would depend on ongoing risk assessments, security conditions and guidance from relevant authorities and partners.

In response to disruptions, Maersk has implemented alternative logistics routes, including a “land-bridge” system using ports in Jeddah in Saudi Arabia, Salalah and Sohar in Oman, and Khor Fakkan in the United Arab Emirates, allowing cargo to be transported by land into Gulf destinations.

The company said it would continue to monitor developments closely and update operations as greater clarity emerges in the coming days.