IRANIAN Foreign Minister Abbas Araqchi said on Friday the Strait of Hormuz was open following a ceasefire agreement in Lebanon, while U.S. President Donald Trump said talks could take place this weekend and he believed a deal to end the Iran war would come “soon”.
Araqchi said in a post on X the strait was open for all commercial vessels for the remainder of the U.S.-brokered 10-day truce that was agreed on Thursday between Israel and Lebanon to halt fighting between Israeli forces and Iran-backed Hezbollah.
Shortly after Araqchi’s statement, Trump posted on Truth Social: “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR PASSAGE.”
But statements from both sides left uncertainty over how quickly shipping could resume. Trump said a U.S. blockade of ships sailing to Iranian ports – announced after talks with Tehran last weekend ended without agreement – would remain until “our transaction with Iran is 100% complete”.
Iran responded sharply, with Foreign Ministry spokesperson Esmaeil Baghaei warning that Tehran would take “necessary reciprocal measures” if a maritime blockade continued.
Trump told Reuters on Friday the U.S. will work with Iran to recover its enriched uranium and bring it back to the United States as part of any deal to end the war. Tehran’s nuclear programme has been a key sticking point in talks so far.
A senior Iranian official told Reuters that differences between the two sides remained, that “no agreement has been reached on the details of the nuclear issues,” and serious negotiations were required to overcome differences.
He said Tehran hoped that a preliminary agreement could be reached in the coming days with mediator Pakistan’s efforts, with the possibility of extending the ceasefire to “create space for more talks on lifting sanctions on Iran and securing compensation for war damages.”
U.S.-Israeli strikes on Iran began on February 28, triggering Iranian attacks on Gulf neighbours and reigniting the Israel-Hezbollah conflict in Lebanon. A two-week ceasefire between the U.S. and Iran expires next week.
Thousands have been killed and the conflict effectively shut the Strait of Hormuz – through which a fifth of the world’s oil and liquefied natural gas usually transits – threatening the worst oil shock in history.
Oil Prices Tumble, Stocks Jump
Oil prices , fell about 10%, extending losses after Araqchi’s post. Global stocks, already trading near record highs, jumped further on the news.
Shipping companies cautiously welcomed Iran’s announcement that the strait was open but said they would require clarifications, including about the risk of mines, before vessels move through the entry point to the Gulf.
The U.S. Navy warned in an advisory to seafarers that the mine threat in parts of the waterway was not fully understood and avoidance of the area should be considered.
A senior Iranian official said ships could pass through the strait only under coordination with Iran’s Islamic Revolutionary Guard Corps.
After a video conference on Friday, more than a dozen countries said they were willing to join an international mission to protect shipping in the strait when conditions permit, Britain said.
Diplomacy Progress
Trump told Reuters on Friday there could probably be more talks this weekend. Some diplomats said that was looking unlikely given the logistics of assembling officials in the Pakistani capital Islamabad, where the talks are expected to take place.
A Pakistani source involved in mediating between the U.S. and Iran said there was progress in backdoor diplomacy and that an upcoming meeting could result in the signing of a memorandum of understanding, followed by a comprehensive deal within 60 days.
“Both sides are agreeing in principle. And technical bits come later,” the source said on condition of anonymity.
A senior Iranian official told Reuters there had been an agreement on unfreezing billions of dollars in Iranian assets as part of the accord to reopen the strait, without giving a timeline.
At last weekend’s talks, the U.S. proposed a 20-year suspension of all Iranian nuclear activity, while Iran suggested a halt of three to five years, according to people familiar with the proposals.
Iran has demanded the lifting of international sanctions, while Washington has pressed for any highly enriched uranium to be removed from Iran. Two Iranian sources have said there were signs of a compromise on the HEU stockpile, with Tehran considering shipping part of it out of the country.
Trump told Reuters the U.S. would recover Iran’s enriched uranium. “We’re going to go in with Iran, at a nice leisurely pace, and go down and start excavating with big machinery… We’ll bring it back to the United States,” he said during a phone interview.
He mentioned “nuclear dust”, a reference to what he believes remains after the U.S. and Israel bombed Iran’s nuclear installations in June last year.
Despite Trump’s optimism, Iranian sources told Reuters that “gaps remained to be resolved” before reaching a preliminary deal, while senior clerics struck a defiant tone during Friday prayers.
In Tehran, cleric Ahmad Khatami said: “Our people do not negotiate while being humiliated,” while in Isfahan, the imam said: “We did not accept the terms proposed by the other party.”
In Islamabad, troops were deployed along routes into the capital on Friday, though roads remained open and the government had not ordered business closures, as it did ahead of the previous meeting.
Lebanon Ceasefire Goes Into Effect
The U.S.-backed ceasefire agreed between Israel and Lebanon appeared to be largely holding on Friday, despite Lebanese Army reports of some Israeli violations. Paramedics said an Israeli drone strike killed one person in southern Lebanon.
The conflict was reignited on March 2 when Hezbollah opened fire on Israel in support of Tehran, prompting an Israeli offensive that authorities say has killed nearly 2,300 people.
There was no immediate comment from the Israeli military on the reported ceasefire violations on Friday.
