US and Iran Agree to Fully Open Strait of Hormuz Within 30 Days

United States (US) and Iran have agreed, as part of an initial deal, to fully reopen the Strait of Hormuz within 30 days, according to the Washington Post citing an unnamed diplomat. The preliminary peace agreement between the US and Iran also includes delaying nuclear talks until a later date, the report added, quoting an unidentified Iranian official.

The framework of the initial agreement has not yet been approved by Iran, per the report which also cited a confidential diplomat.

The newspaper stated that both sides have agreed to extend the ceasefire for 60 days to reach a final resolution.

On 28 February, the US and Israel launched joint strikes on targets in Iran, causing damage and civilian casualties. Iran retaliated by attacking Israeli territory and US military facilities in the Middle East in self-defence.

On 7 April, Washington and Tehran announced a two-week ceasefire. Subsequent negotiations in Islamabad ended without results, and US President Donald Trump extended the cessation of hostilities to allow Iran time to prepare a “comprehensive proposal”.

Heightened tensions around Iran have led to a de facto blockade of the Strait of Hormuz, a critical route for Persian Gulf oil and liquefied natural gas exports to global markets, impacting oil exports and production in the Middle East.

As a result of these disruptions, most countries worldwide have experienced increased fuel and industrial product prices.