New Delhi, July 3 -- the 60-day diplomatic window, the nuclear inspection freeze, the Iranian parliament's formal ratification. One word, though, turned out to matter enormously. That word was "toll."

The MOU explicitly bans tolls on passage through the Strait of Hormuz. It says nothing about "service fees," "navigational charges," or "environmental levies." Iran's Majlis had already noticed that gap. In legislation passed on March 30 and 31, before ceasefire negotiations produced any MOU language, parliament codified a fee structure explicitly labeled as charges for navigation assistance, maritime security, and environmental monitoring. Not a toll. A service fee.

Foreign Minister Abbas Araghchi made Tehran's reading explicit on June 14...