TEHRAN: Iran has announced that “non-hostile” vessels will be allowed safe passage through the strategically vital Strait of Hormuz, subject to compliance with security protocols and coordination with Iranian authorities.
In a statement issued by Iran’s mission to the United Nations, it was said that ships not engaged in hostile actions against Iran may transit the waterway after maintaining communication with relevant officials. However, Tehran did not disclose detailed conditions for the passage.
The Strait of Hormuz remains a critical global energy corridor, handling nearly 20% of the world’s oil and liquefied natural gas shipments. Shipping activity in the channel has been severely disrupted following the outbreak of hostilities involving the United States and Israel against Iran.
According to reports, daily vessel traffic has dropped sharply. Prior to the conflict, around 120 ships passed through the strait each day, but the number has now declined significantly, with only a handful of vessels recorded in recent days.
Analysts warn that continued disruption could have serious implications for global trade and energy supplies. Oil prices have already shown upward pressure, with experts cautioning that prolonged closure of the waterway could push crude prices to between $150 and $200 per barrel.
The development comes amid claims by US President Donald Trump that negotiations are underway to end the conflict, although Iranian officials have previously denied any such talks.
Meanwhile, reports of potential diplomatic progress have provided some relief to global markets, with Asian stock indices showing gains and international oil prices registering a temporary dip.