Iran has declared the Strait of Hormuz, which is an open source of commercial shipping, indicating a relief in the Middle East.
Tehran has taken the move in honor of the ceasefire between Lebanon and Israel.
On Friday, Iranian Foreign Minister Abbas Aragchi said in a message on social media that during the ceasefire, international commercial ships will be able to move freely through the Strait of Hormuz. However, conditions have been imposed to follow the prescribed waterways to maintain safety and order.
According to Iranian authorities, the decision was taken to maintain regional stability and to keep the global trade flow. In recent times, the blockade surrounding the stray and military tensions have created uncertainty in international shipping.
Analysts see the possibility of a positive impact on the international market as the Strait of Hormuz, which is considered one of the main corridors of global energy supply, is open. Especially if the transportation of oil and gas is normal, the pressure on the global energy market may reduce slightly.
According to observers, Iran’s announcement carries a significant message not only from a commercial point of view, but also diplomatically — which could bring renewed momentum to regional peace efforts.