Iran’s Foreign Minister Abbas Araghchi announced the Strait of Hormuz “completely open” for commercial vessels on Thursday, a significant shift after weeks of near-total closure that slashed global shipping through the waterway by 95 percent. 

“In line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire,” Araghchi posted on social media. Ships must follow a coordinated route prescribed by Iran’s Ports and Maritime Organisation. 

In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.

— Seyed Abbas Araghchi (@araghchi) April 17, 2026

President Trump responded with a series of posts on Truth Social on Friday. He first welcomed the announcement: “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” Shortly after, he confirmed that the U.S. naval blockade would remain “in full force and effect” on Iran exclusively, until a permanent agreement is reached.

“IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” – President Donald J. Trump 🇺🇸 pic.twitter.com/xDQpCj8APe

— The White House (@WhiteHouse) April 17, 2026

The U.S. blockade, now the first full naval blockade of a sovereign state’s ports by the United States since the Second World War, has been enforced by CENTCOM since April 13 using more than 10,000 troops, two carrier strike groups, and over a dozen warships. 

Iran’s enriched uranium stockpile remains the central unresolved question. Axios reported that Washington and Tehran are working from a three-page framework in which the U.S. would release $20 billion in frozen Iranian funds in exchange for Tehran surrendering its enriched uranium. 

Iran holds approximately 2,000 kilograms of that material in underground facilities, including 450 kilograms enriched to 60%, close to weapons grade. 

The financial terms have allegedly narrowed from a U.S. opening offer of $6 billion and an Iranian counter-demand of $27 billion to the current figure of $20 billion. The physical disposition of the stockpile reportedly remains unresolved. Washington demands the uranium be transferred out of the country, while Tehran has proposed down-blending it domestically.

The Institute for the Study of War assessed that the IRGC is playing an outsized role in Iranian decision-making on this specific point, complicating the civilian negotiating track. Gulf Arab and European officials told Bloomberg a comprehensive agreement could take up to six months to finalise.

Following the announcement, Europe has reportedly moved to create an independent maritime security framework. French President Emmanuel Macron and British Prime Minister Keir Starmer co-hosted a videoconference Friday with approximately 40 “non-belligerent” countries to plan what the Élysée Palace described as a “multilateral and purely defensive mission” to restore freedom of navigation in the strait when security conditions allow. 

Pakistan has remained the primary bilateral intermediary, deploying its military chief and interior minister to Tehran during the week. A second round of direct U.S.-Iran peace talks remains under discussion, though nothing has been formally scheduled, a White House official told CNBC.

The Hormuz announcement, if genuine and durable, would restore access to a corridor through which roughly 20% of the world’s oil supply flows.