(LEAD) U.S. says Iran deal signed, expects toll-free Strait of Hormuz transit as part of final pact (opens original article in a new tab)

The U.S. and Iran have signed a memorandum of understanding to extend their ceasefire for 60 days, with the Strait of Hormuz to remain toll-free during this period as part of the agreement.

• U.S. and Iran signed a memorandum of understanding to extend ceasefire for 60 days
• Strait of Hormuz will be toll-free for 60 days as part of the agreement
• U.S. expects toll-free transit in Strait of Hormuz to be included in final peace deal