What a difference a day makes. This time yesterday, one might have been forgiven for thinking more ships might start squeezing through the Strait of Hormuz as the US-Iran ceasefire approaches its expiry date.
On Friday, US President Donald Trump was effusive in welcoming an announcement from Tehran that the Strait of Hormuz was “fully open and ready for full passage. Thank you!”
Iranian Foreign Minister Abbas Araghchi had suggested on X that the strait would be fully open again, while adding that Iran would coordinate shipping routes. The post sent the price of crude oil down 10 percent in a matter of hours, but aged poorly, with semi-official Iranian outlet Tasnim criticizing Araghchi for creating “various ambiguities about the conditions for passage, its details, and its mechanisms.”
Then Trump said the US blockade of Iranian ports would continue “in full force” until the “transaction” with Iran is complete.
Now, 24 hours later, the Islamic Revolutionary Guard Corps (IRGC) said it has blocked the strait once more, citing the continued US blockade of Iranian ports.
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