New York: Iran has announced on Friday that the Strait of Hormuz will be open during the ceasefire and US President Donald confirmed it with a “thank you” post, while maintaining the US blockade of Iran’s ports would continue. 

Iran Foreign Minister Seyed Abbas Araghchi said on X, “The passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire”.

He linked the opening to the 10-day ceasefire reached on Thursday between Lebanon and Israel.

The opening was “in line with the ceasefire in Lebanon”, he posted.

In a strange nomenclature twist, Trump referred to the Strait Hormuz as the “Strait of Iran” in his post.

In the exuberant all-caps post on Truth Social, “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU”!

But he quickly followed it up with another post that “the naval blockade will remain in full force and effect as it pertains to Iran, only, until such time as our transaction with iran is 100% complete”.

However, he added, “This process should go very quickly in that most of the points are already negotiated”.

Oil prices dropped by around 9 per cent Friday morning in New York, sending stock markets soaring, with Dow Jones Industrial Index up 1.5 per cent.

The Iranian statement on the opening of the Strait was not clear if it referred to the ten-day Lebanon-Israel ceasefire that ends in nine days or the 14-day Iran-US ceasefire in force till next Tuesday.

Araghchi said ships woiuld have to go “on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran”.

He said the opening was for “commercial vessels”, implying that naval ships would not be allowed.

The closure of the Strait following the Israel-US bombing of Iran on February 28 has hit hard countries dependent on oil, gas and fertiliser inputs from the Gulf.

With 20 per cent of the fossil fuel threading through the Hormuz chokehold, global economy suffered its repercussions, all the way to the petrol stations near the White House.