This war has proven to Iran they can control 20% of the oil shipped around the world. That is enormous leverage. It is not clear if they will give that up. The MOU language is unclear on Iran's relationship to the Strait and under what circumstances they get payments for transit.
If we get back to an open straight with shipping by all countries, with restrictions and sanctions on Iran, that would be a great starting point. All these things are blowing in the wind.