Iran has temporarily lifted restrictions on commercial shipping through the Strait of Hormuz, reopening a critical maritime route for global trade. The measure will remain in effect for the duration of the ceasefire between Israel and Hezbollah, according to Iranian Foreign Minister Abbas Araghchi.
In a statement posted on X, Araghchi indicated that all commercial vessels are now permitted to pass freely along an agreed route, in line with guidance issued by Iran’s Ports and Maritime Organization.
The announcement drew a swift response from US President Donald Trump. He thanked Tehran for the move, while notably referring to the waterway as the «Iranian» Strait. At the same time, Trump signaled that the blockade of Iranian ports imposed on April 13 would stay in place. He made clear that these restrictions would remain until a final agreement with Tehran is fully concluded, adding that the deal is already largely settled.
The development quickly rippled through commodity markets. As of 16:11 Moscow time on April 17, June futures for Brent crude had dropped by 11.22% to $87.94 per barrel, hitting their lowest level since March 11. Gas prices followed suit: by 15:54 Moscow time, May futures on the TTF index had fallen by 9%, reaching $470 per thousand cubic meters.