Iran says Strait of Hormuz ‘completely open’: Key takeaways from Trump, Araghchi remarks

US President Donald Trump said on Friday that the Strait of Hormuz is now "ready for full passage", after Iran's foreign minister, Abbas Araghchi, announced that the "passage for all commercial vessels" through the waterway is "declared completely open for the remaining period of ceasefire". The confirmations from both leaders come at a time when all three main countries -- the US alongside Israel against Iran -- have established temporary ceasefires, with global markets awaiting the outcome of US-Iran peace talks in Pakistan's Islamabad over the weekend.

This marks a second round of discussions between Iranian and American delegations after the earlier, first round of talks in the Pakistani capital fell through with no agreement on the United States' main condition that Tehran be restricted from acquiring or developing nuclear power. Trump has held the firm position in the conflict that Iran be blocked from nuclear capabilities and the Strait of Hormuz be reopened. The crucial maritime region -- connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea -- normally enables the passage of 20 per cent of the world's oil and gas.

Strait of Hormuz completely open; West Asia war nearing end?

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Araghchi said commercial ships must follow designated coordinated routes, stating that the passage may be restricted to non-military vessels and require coordination with Iranian authorities. “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,” he wrote on social media.

The development follows the announcement of a temporary ceasefire between Israel and Lebanon. Earlier, Israel argued that Lebanon was not part of the US-Iran ceasefire, but Tehran insisted that it was.

Experts say that the ceasefires further eased tensions in the region, leading to a sharp fall in oil rates.

Brent crude oil was down 8.5 per cent at $90.9 per barrel at the last count while the West Texas Intermediate (WTI) crude was down 10.2 per cent at $85 a barrel.

What else did Trump say?

Trump said that the US Naval blockade will continue against Iran until Tehran agrees to a deal with the US to end the war.

In a separate post, Trump wrote on Truth Social that Iran had agreed to “never close the Strait of Hormuz again”. “It will no longer be used as a weapon against the World!” he asserted.

According to foreign media reports, Trump has said that there are “no sticking points” left for a deal to end the war with Iran. This week, he said that the war was nearing its end.

“The USA will get all Nuclear ‘Dust', created by our great B2 Bombers -- No money will exchange hands in any way, shape, or form,” the US president wrote.

Trump also said that Israel will no longer bomb Lebanon, ading that any deal between the US and Iran is not contingent on events in Lebanon. Israel, he said, is "prohibited from doing so by the USA. Enough is enough”.

The Strait of Hormuz -- central to the West Asia conflict -- has been effectively closed during the US-Iran ceasefire as the two countries disputed the terms of the agreement.