The Strait Of Hormuz Is Kinda Sorta Open: Let Me Explain
The ongoing war in Iran can only be described as an absolute s–tshow. The conflict was started under dubious pretenses, and President Donald Trump seemingly keeps saying the war will end within two-to-three weeks every two to three weeks. There is some slight hope on the horizon as Iran has announced that the Strait of Hormuz is open.
According to AP, the Iranian government made the announcement on Friday after a ceasefire between Israel and Lebanon appeared to hold. Trump confirmed the announcement on Truth Social, posting: “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!”
Trump shortly made another post, in all caps of course, confirming that the U.S. Navy will continue to blockade Iranian ships from using the port, “UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE.”
Trump ordered the U.S. Navy to form a blockage around the Strait of Hormuz as a result of not being able to come to an agreement over Iran’s nuclear program and the operation of the Strait.
Trump has intimated to reporters that a deal with Iran could be reached as soon as this weekend, but it’s unclear whether that timeline is grounded in reality or just how Trump felt at the moment.
The Strait of Hormuz has been one of the key focal points of the conflict in Iran. Much of the world’s oil and fertilizer passes through the Strait, which is located along the coast of Iran. As a result of the prolonged bombing campaign by Israel and the U.S., the Strait has been effectively closed since the start of the conflict. While Iran and the U.S. did agree to a ceasefire last week, they have yet to reach a deal to permanently bring an end to the conflict.
The blockade may make this a short-lived celebration. While speaking to the media, Iranian Foreign Ministry spokesperson Esmail Baghaei said: “If the other side chooses to break its commitments, which it appears it intends to do, and if the naval blockade continues, the Islamic Republic of Iran will in response take the necessary measures, and there is no doubt about this.”
It should be noted that Iran has said that the Strait is open for the duration of the ceasefire. Unless a permanent peace agreement is made between all the relevant parties, there’s still a chance the Strait will be closed yet again. While oil prices dropped significantly on Friday, and that should provide some short-term relief at the gas pump, until a permanent ceasefire is reached, there’s no guarantee prices will return to their prewar levels.
“If the strait does remain open, we’ll see the oil that already has been produced and is being stored, that can flow,” Spencer Dale, who until recently served as the chief economist of the London-based oil company BP, told The New York Times. Dale cautioned that oil producers that have been forced to turn off their oil and gas wells due to conflict may not be willing to turn them back on “until people have confidence that you have a lasting agreement.”
So there you have it, folks. The Strait of Hormuz is open … in theory
SEE ALSO:
Strait Of Hormuz Still At Standstill Despite Ceasefire
Inflation Hit Highest 1 Month Spike In 4 Years Due To Iran War
The Strait Of Hormuz Is Kinda Sorta Open: Let Me Explain was originally published on newsone.com
