TEHRAN (MNN); Iranian Foreign Minister Abbas Araqchi announced on Friday that the Strait of Hormuz has been reopened for global trade following a ceasefire agreement linked to developments in Lebanon.
In a post on X, Araqchi said the passage would remain open for all commercial vessels during the “remaining period of ceasefire,” although it was unclear whether he was referring to the 10-day truce between Israel and Lebanon or an earlier two-week ceasefire between Iran and the United States that began on April 8. He added that ships must follow routes designated by Iran’s Ports and Maritime Organisation.
US President Donald Trump welcomed the move, calling it a positive step. However, he confirmed that US naval restrictions targeting vessels heading to Iranian ports would remain in place until a complete agreement with Iran is achieved.
Trump also stated that Israel would halt further military action in Lebanon, adding that the US had prohibited additional strikes. He further claimed that Washington would secure nuclear material from Iran without any financial exchange.
In another statement, Trump said Iran, with US assistance, had removed or was in the process of removing sea mines from the waterway. He also thanked Saudi Arabia, the United Arab Emirates, Qatar, and Pakistan for their support, praising Prime Minister Shehbaz Sharif and Army Chief Asim Munir.
He further stated that Iran had agreed not to close the Strait of Hormuz again, ensuring uninterrupted global trade.
The broader conflict, which began on February 28 following US-Israeli strikes on Iran, has caused significant casualties and instability across the Middle East. The temporary closure of the Strait had threatened global energy supplies, as nearly one-fifth of the world’s oil and liquefied natural gas passes through it.
Following the reopening announcement, global oil prices dropped by around 9 percent. Meanwhile, the International Monetary Fund warned that prolonged conflict could push the global economy toward recession.
