Iran’s Foreign Minister Abbas Araghchi has just made the announcement the world was waiting for. Passage through the strait is now free for all commercial vessels during the remainder of the ceasefire period.

“The passage for all commercial vessels through the Strait of Hormuz is declared completely open”, the minister wrote on his X account, specifying that the coordinated route already announced by the Ports and Maritime Organisation of the Islamic Republic of Iran will be used.

The weight of the announcement is huge: roughly 20% of the world’s oil passes through this waterway. Its closure since March 2 had pushed energy prices up and sparked fear across global markets.

The decision comes after weeks of blockade, sea mines, and diplomatic tension that had paralyzed merchant traffic. Several shipping companies had vessels trapped in the area waiting for a signal like this one.

Although Washington maintains its blockade on Iranian ports and the situation remains fragile, Tehran’s gesture opens a window of relief for the world economy and for millions of people affected by the energy crisis.