Trump cheers as oil prices PLUNGE after Iran declares Strait of Hormuz ‘completely open’: ‘Ready for full passage’
Donald Trump hailed a major step towards peace with Iran after the regime leadership declared the Strait of Hormuz ‘wide open’ following Israel’s ceasefire with Lebanon.
Iran’s foreign minister announced on social media on Friday morning that ‘all commercial ships’ were allowed to pass through the critical oil choke point, marking a full reopening after nearly a month of closure.
“In accordance with the ceasefire in Lebanon, the passage of all commercial ships through the Strait of Hormuz has been declared completely open for the remaining duration of the ceasefire, along the coordinated route previously announced by the Ports and Maritime Organization of the Islamic Republic of Iran,” Seyed Abbas Araghchi wrote.
Following the announcement, crude oil prices fell 10 percent to $82 per barrel within minutes. The Bosphorus carries approximately one fifth of the world’s oil supply.
Trump reacted by thanking the regime he once tried to overthrow on Truth Social: ‘IRAN ANNOUNCED THAT THE PERSIAN STRAIT IS COMPLETELY OPEN AND READY FOR FULL PASSAGE. THANK YOU!’
The president later added that the US naval blockade of the strait “will remain in full effect” until Iran reaches an agreement to end the war.
‘THE STRAIT OF HORmuz IS COMPLETELY OPEN AND READY FOR COMMERCIAL AND FULL PASSAGE, BUT THE MARITIME BLOCKADE WILL REMAIN FULL OBLIGATION AND EFFECTIVE WITH RESPECT TO IRAN UNTIL OUR TRANSACTION WITH IRAN IS 100% COMPLETED. “THIS PROCESS MUST PROCEED VERY FAST AS MOST OF THE POINTS HAVE ALREADY BEEN NEGOTIATED,” Trump wrote.
Iran had previously insisted that the strait would be fully reopened if Israel agreed to a ceasefire in Lebanon, where Tehran-backed Hezbollah is active. On Thursday, Trump declared a 10-day ceasefire between Israel and Lebanon after a phone call with Benjamin Netanyahu.
Trump hailed a major step towards peace with Iran after regime leadership declared the Strait of Hormuz ‘wide open’ after Israel declared a ceasefire with Lebanon
Iran had previously insisted that the strait would be fully reopened if Israel agreed to a ceasefire in Lebanon, where Tehran-backed Hezbollah is active.
The Strait of Hormuz is responsible for one-fifth of the world’s oil supply
After the failure of peace talks with the Islamic regime in Pakistan last weekend, the President blockaded the strait from the sea. Since the start of the war, Iran has deployed explosive suicide boats, drones and mines, halting almost all commercial shipping on the transit route.
According to Axios, negotiations between the US and Iran have accelerated in recent days; Washington considered Tehran’s offer to release nearly $20 billion in frozen Iranian funds in exchange for handing over its enriched uranium stockpile.
Trump denied that the US would pay Iran for its uranium stockpile, saying: ‘No money will change hands in any way, shape or form.’
The president also stated that the current peace agreement ‘will not be tied to Lebanon in any way, but the United States will work with Lebanon separately and deal with the Hezbollah situation as appropriate.’
‘Israel will no longer bomb Lebanon. They are BANNED by the USA from doing this. Enough!!!
Trump had previously said Thursday that U.S. and Iranian negotiators would likely meet this weekend for a second round of talks before the two-week ceasefire nears its end on Tuesday.
A source familiar with the mediation efforts said the talks will be held in Islamabad on Sunday.
Trump also told reporters on Thursday that Iran had agreed to hand over highly enriched uranium that the United States claimed was buried following air strikes on key Iranian nuclear facilities last year.
US-Iran peace talks make progress as Pakistan continues to act as mediator in talks
Trump described the Strait of Hormuz as the ‘Strait of Iran’ in his Truth Social post
Trump said Israel’s attacks on Lebanon will end: ‘Enough is enough!!!’
However, there was no confirmation from Iran that this concession was made during the meetings with US officials last week.
Trump also said he was willing to extend the temporary ceasefire beyond the April 21 deadline if peace talks progress.
Ensuring that Iran cannot access its underground nuclear stockpile, particularly its 450 kg of 60 percent enriched uranium, is a primary goal of the Trump administration.
Iran, meanwhile, demands full control over the Strait of Hormuz, including imposing taxes on foreign oil tankers.
It is noteworthy that the President referred to the waterway as the ‘Strait of Iran’ instead of the Strait of Hormuz in his Hakikat Social post celebrating the opening.
