In a move that has sent shockwaves through global energy markets, Iran announced on Friday that it is reopening the Strait of Hormuz to commercial freight after nearly seven weeks of effective closure. The decision, announced by Foreign Minister Abbas Araghchi, came into effect as a 10‑day ceasefire involving Israel and Lebanon was implemented, marking the first time the strategic waterway has been fully accessible since the US‑Israeli war on Iran began on February 28. The immediate impact on oil prices was dramatic: Brent crude fell 11 percent to just over $88 a barrel, while stock markets around the world surged in response to the news. Tehran has made clear that while the strait is open for commercial traffic, all transit remains under the supervision of the Islamic Revolutionary Guard Corps Navy, with military vessels still prohibited from passing through Iranian‑controlled waters.
Shipping industry representatives have offered a cautious welcome to Iran’s announcement, while emphasising that a return to normal operations cannot happen overnight. German shipping giant Hapag‑Lloyd, which has vessels stranded in the Gulf, described the reopening as “in general … good news,” but its spokesman Nils Haupt cautioned that shippers urgently need details about safe routes and the order of transit. “One thousand ships cannot just go now to the entrance of the strait, that will be chaos. They need to give clear orders,” Haupt told AFP, adding that his company could be ready to sail “very soon if some of these open questions can be solved within the weekend”. Bloomberg data indicated that approximately 770 cargo vessels remained inside the Gulf on Thursday, of which about 360 were oil and gas carriers, highlighting the scale of the logistical challenge ahead. Thomas Kazakos, secretary general of the International Chamber of Shipping, called the announcement “a positive step” that offers “a cautious measure of reassurance” to seafarers, but stressed the need for “a broader and more durable return, beyond the current ceasefire, to freedom of navigation”. The Norwegian Shipowners’ Association similarly welcomed the development while warning that outstanding issues, including the presence of sea mines, applicable Iranian conditions and practical implementation must be resolved before any transit can be assessed.
President Donald Trump swiftly seized on Iran’s announcement, declaring on Truth Social that the strait is “completely open and ready for business and full passage,” while simultaneously insisting that the US 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 percent complete”. Trump also claimed that Iran had agreed to “never close” the strait again and that Tehran was removing all sea mines with American assistance. However, these assertions were met with sharp pushback from maritime security experts. Jakob Larsen, chief security officer of the major shipping association BIMCO, flatly called Trump’s claims “inaccurate,” stating that “the status of mine threats in Iran’s maritime traffic separation scheme is unclear, and BIMCO believes shipping companies should consider avoiding the area”. A senior Iranian military official also clarified to state media that only non‑military vessels would be allowed to transit, and only with permission from the IRGC Navy, a far more measured position than Trump’s triumphalist narrative. The US Navy itself issued an advisory on Friday warning that the threat posed by mines in parts of the strait is not fully understood, and that avoidance of the area should be considered. French President Emmanuel Macron, while welcoming the move as going “in the right direction,” cautioned that Paris opposes “any restrictions or system of agreements that would, in effect, amount to an attempt to privatize the strait, and, of course, any toll system”.