Abbas Araghchi, the foreign minister of Iran’s regime, announced in a post on the social media platform X that following the establishment of a ceasefire in Lebanon, the passage of all commercial vessels through the Strait of Hormuz will be fully open until the end of the ceasefire period. According to him, this decision was made within the framework of recent agreements and will be implemented until the specified deadline.
The ceasefire between the United States and Israel on one side and Iran’s regime on the other began on April 7 and is set to last for two weeks. However, Araghchi emphasized that vessel traffic must take place only through pre-designated routes coordinated with the Ports and Maritime Organization, a state body overseeing Iran’s shipping and port operations.
The Importance of the Strait of Hormuz as a Vital Artery of the Global Economy
Minutes after the message was published, U.S. President Donald Trump responded on his social media platform Truth Social, stating that Iran has just confirmed the strait is fully open and ready for free navigation.
Since the start of U.S. and Israeli attacks, maritime traffic through the Strait of Hormuz had been disrupted, making it one of the central issues in negotiations and conditions for establishing the ceasefire. Reopening this strategic waterway had been one of the key conditions in the recent agreement between the parties.
In contrast, the United States, which had previously launched a naval blockade against the southern ports of Iran’s regime in response to continued restrictions in the Strait of Hormuz, announced that this measure will continue. Donald Trump stated that despite the reopening of the strait, the blockade will remain in place until a full agreement is reached with Tehran.
On Friday, April 17, Trump wrote on Truth Social:
THE STRAIT OF HORMUZ IS COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE, BUT THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE. THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF THE POINTS ARE ALREADY NEGOTIATED. THANK YOU FOR YOUR ATTENTION TO THIS MATTER! PRESIDENT DONALD J.TRUMP
He also emphasized that the process of reaching the agreement must move quickly, as much of its content has already been negotiated.
The naval blockade of Iran’s regime ports began by order of the U.S. president after the first round of negotiations between Iranian and American delegations in Pakistan, which was described as “unsuccessful,” and has been used as leverage to advance further talks.
Following these developments, global energy markets reacted sharply, and oil prices experienced a significant decline. The price of oil in global markets fell by more than 10% to around 89 dollars per barrel. Meanwhile, West Texas Intermediate crude also dropped by 11% to 84.11 dollars per barrel, a decrease that reflects the direct impact of geopolitical developments on the energy market.
