Iran's Foreign Minister Abbas Araghchi announced Friday (17) the complete reopening of the Strait of Hormuz for ship traffic to last throughout the ceasefire with the United States. According to the Iranian government, all vessels may resume free circulation during the remaining period of the truce, which lasts until the following Wednesday (22).
The blockade of the maritime route was one of the main obstacles in negotiations between the two countries, as the opening of the maritime passage was one of the United States' key demands. After Iran authorized navigation through the Strait of Hormuz, oil prices reacted immediately, registering a drop of nearly 10%.
Earlier, data from maritime transport monitoring website Kpler already showed that navigation through the strait had resumed. Three Iranian oil tankers departed the Persian Gulf, carrying 5 million barrels of crude oil, the first such cargoes since the U.S. blockade of Iranian ports on Monday (13).
"In accordance with the ceasefire in Lebanon, passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire, on the coordinated route already announced by the Ports and Maritime Organization of the Islamic Republic of Iran," Abbas Araghchi declared.
Repercussion
Following the announcement, U.S. President Donald Trump spoke out via social network Truth Social. "Iran just announced that the Strait of Iran is completely open and ready for full passage. Thank you!" However, he remained firm in maintaining the naval blockade on Iranian ports until there is an agreement.
The Strait of Hormuz connects the Persian Gulf to the Indian Ocean and is considered one of the most strategic points in global commerce. Through the strait, ships typically transit carrying about 20% of all petroleum and gas consumed in the world.
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