A two-week ceasefire to the Iran War entered its tenth day as Iran announced that it would “open” the Strait of Hormuz. Iran says the decision comes because of the “ceasefire in Lebanon,” which was announced by President Donald Trump on Thursday. On Friday, shortly after Iran’s announcement about the Strait of Hormuz, Trump wrote on Truth Social that Israel was now “PROHIBITED” from bombing Lebanon.
It remains unclear how open the waterway will truly be, with Iran’s Foreign Minister Abbas Aragchi releasing a statement that said ships should travel “on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.” Aragchi said the Strait would be open “for the remaining period of ceasefire.”
The “coordinated route” is the corridor north of Larak Island, near the Iranian coastline, and the Islamic Republic seems to have charged tolls for ships to pass through that route.
Trump thanked Iran for the decision, posting on Truth Social that “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!”
In a separate post, Trump said that the U.S. blockade of the Strait would remain in effect, only targeting Iran, “UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE.”
The price of Brent crude oil dropped below $90 per barrel on the announcement. On Friday morning, the AAA reported the national average price of gas at $4.08.
Shipping executives remained cautious, with the Norwegian Shipowners’ Association saying that several factors needed clarification before any trips through the Strait of Hormuz could be considered, including the presence of sea mines and Iranian conditions.
On Friday, Israeli Defense Minister Israel Katz said that the ceasefire in Lebanon was “temporary” and that the IDF would not be withdrawing from its positions in the country. “The IDF holds and will continue to hold all the areas it has cleared and captured,” he said. “The ground maneuver into Lebanon and the strikes against Hezbollah throughout Lebanon have achieved many accomplishments, but they have not yet been completed.”
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