Iran Opens Hormuz During Ceasefire; Trump Says Thank You

New York: Iran announced on Friday that it would allow commercial vessels to pass through the Strait of Hormuz for the duration of the current ceasefire. U.S. President Donald Trump quickly confirmed the move with a “thank you” post on social media, though he clarified that the U.S. naval blockade of Iranian ports will remain in effect.

Iranian Foreign Minister Seyed Abbas Araghchi declared the opening on X (formerly Twitter), stating, “The passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.” He linked the decision to the 10-day ceasefire reached Thursday between Lebanon and Israel.

In an exuberant, all-caps post on Truth Social, President Trump responded: “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” However, he immediately followed up by noting that the U.S. naval blockade remains in “full force and effect” specifically regarding Iran until the two nations finalize a broader “transaction.”

The news sent immediate ripples through the global economy. Oil prices plummeted by approximately 9% on Friday morning in New York, sparking a stock market rally that saw the Dow Jones Industrial Average climb 1.5%.

The Iranian statement did not specify whether the opening applies to the 10-day Lebanon-Israel ceasefire or the separate 14-day Iran-U.S. ceasefire, which expires next Tuesday. Araghchi emphasized that ships must follow coordinated routes set by Iran’s Ports and Maritime Organization and clarified that the opening applies strictly to “commercial vessels,” effectively barring foreign warships.

The closure of the Strait, which followed U.S. and Israeli strikes on February 28, has severely strained the global economy. As a critical chokepoint for 20% of the world’s fossil fuels, the blockade had previously sent energy and fertilizer prices soaring worldwide.