Iran has announced the complete reopening of the Strait of Hormuz.
On Friday , Iranian Foreign Minister Seyed Abbas Araghchi declared that passage for all commercial vessels through the Strait of Hormuz is now completely open, and would remain open for the remainder of the ceasefire in Lebanon.
US President Donald Trump hailed the news while thanking Iran in a social media post. He said earlier a peace deal between the US and Iran is now “very close.”
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Earlier, a 10-day ceasefire between Israel and Lebanon began, with celebrations and fireworks in Beirut
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RT reports: Araghchi’s announcement came shortly after a 10-day truce came into force between the Israel Defense Forces (IDF) and the Hezbollah militant group in Lebanon, which has been one of the major obstacles to a peace deal between Iran and the US.
Writing on X, the Iranian minister stated that “in line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.”
He noted however, that the vessels would be allowed to move along the “coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran,” suggesting that the strait will remain under Tehran’s control.
The Strait of Hormuz has been shut down ever since the US and Israel launched an unprovoked attack on Iran in late February. The closure has driven up energy prices and rattled the global economy, disrupting one of the world’s most important trade arteries, which handles around 20% of global crude exports.
In the minutes following Araghchi’s announcement, oil prices plummeted by more than 10%, with Crude oil dropping to just over $83 per barrel and Brent coming in at around $88.
