Iran announced on Friday that the Strait of Hormuz will remain open throughout the ceasefire. US President Donald Trump acknowledged this announcement with a “thank you” post. However, the US confirmed that its blockade of Iran’s ports would persist.
Iran’s Foreign Minister, Seyed Abbas Araghchi, stated that the passage for all commercial vessels through the Strait of Hormuz is fully open during the ceasefire period. This decision was linked to the 10-day ceasefire agreement between Lebanon and Israel.
In a social media post, Trump referred to the Strait of Hormuz as the “Strait of Iran.” He expressed gratitude, emphasizing that the passage was ready for full use. Despite this, he clarified that the naval blockade on Iran would continue until certain conditions are met.
Oil prices experienced a significant drop of around 9% in New York on Friday morning, leading to a surge in stock markets. The Dow Jones Industrial Index rose by 1.5% in response to this development. The Iranian statement regarding the Strait’s opening did not specify whether it pertained to the Lebanon-Israel ceasefire or the Iran-US ceasefire.
Araghchi mentioned that ships must follow a coordinated route as directed by the Ports and Maritime Organization of Iran. The opening of the Strait was specified for commercial vessels, indicating that naval ships would not be permitted to pass through. The closure of the Strait following previous events has had a severe impact on countries reliant on Gulf resources.
