Good news for global trade, livelihoods: Iran, US agree to open Hormuz Strait

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Iran has announced that it will allow passage for “all commercial vessels” through the strategic Strait of Hormuz following the declaration of a 10-day Israel-Lebanon ceasefire. However, US President Donald Trump has vowed to maintain his blockade of Iranian ports.

The announcement was made by Iranian Foreign Minister Seyed Abbas Araghchi, who said that the strait is “completely open” for the remaining period of the truce on the route approved by the Iranian authorities. The statement marks a significant shift from Iran’s previous stance, when Tehran prohibited passage for any US or Israeli ship.

The 10-day ceasefire entered into force on Friday following several weeks of fighting between Israel and Hezbollah, which claimed more than 2,000 lives in Lebanon.

Trump has said that while the Strait of Hormuz is “open and ready for business,” the naval blockade will remain in full force and effect as it pertains to Iran.”

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