The Iranian government on Friday declared that the Strait of Hormuz is completely open for commercial ships for the remaining period of the ceasefire, in line with that in Lebanon.
Seyed Abbas Araghchi, Foreign Minister of Iran, announced the key development in a post on X saying, “In line with the ceasefire in Lebanon, the passage for all commercial vessels through (the) Strait of Hormuz is declared completely open for the remaining period of the ceasefire.”
He added that the safe passage will only be applied on the coordinated route as already announced by Ports and Maritime Organization of the Islamic Republic of Iran.”
Following Araghchi’s announcement, oil prices plunged by about 9%, extending previous losses. As per Reuters, Brent crude futures dropped by $8.46, or 8.5%, to $90.93 a barrel at 1300 GMT.
The same announcement was reiterated by US President Donald Trump on Truth Social as he wrote, “Iran has just announced that the ‘Strait of Iran’ is fully open and ready for full passage.”
A 10-day ceasefire announced by Trump and agreed on by Lebanon and Israel, also potentially boosted efforts to extend a truce between Iran, the United States and Israel.
An end to Israel’s war against Hezbollah was a key demand of Iranian negotiators on the table when Washington held peace talks in the Pakistani capital Islamabad last week.
Israel has not been fighting with Lebanon itself, but rather with the Iranian-backed Hezbollah militant group inside its territory, which said in a statement that “any ceasefire must be comprehensive across all Lebanese territory and must not allow the Israeli enemy any freedom of movement.”
Also Read: Iran halts Hormuz traffic over Israel ceasefire breach
Israeli Prime Minister Benjamin Netanyahu said earlier that he agreed to the ceasefire “to advance” peace efforts with Lebanon, but said Israeli troops would not withdraw.
Meanwhile, Pakistan’s army chief Asim Munir met with Iranian parliament speaker Mohammad Bagher Ghalibaf as part of international efforts to press for an extension to the ceasefire that has paused almost seven weeks of war.
Mediators in the US-Iran ceasefire are pushing for a compromise on three main sticking points that led to failure of Islamabad Talks: Iran’s nuclear program, reopening of the Strait of Hormuz and compensation for wartime damages, according to a regional official involved in mediation efforts, as cited by AP.
Washington has mentioned the reopening of the crucial waterway as a key demand for the ceasefire as the closure has led to a global energy crisis that is worsening with every passing day.
After the announcement of the 10-day Lebanon ceasefire, a spokesperson from the U.S. peacekeeping force in southern Lebanon known as UNIFIL told AP that peacekeepers have not observed any airstrikes since midnight.
Tilak Pokharel, the spokesperson said, however, that they had observed “artillery shelling in several areas in south Lebanon” up until 6 a.m. and “continue to observe
“They are remaining in positions, including in Bint Jbeil,” Pokharel told the news agency, referring to a village about 5 km (3 miles) from the border where heavy fighting had taken place before the ceasefire.
The Economic Times
