(Photo: AFP)

Pres. Donald Trump of the US on Friday welcomed Iran’s announcement that the important Strait of Hormuz will be reopened to shipping traffic.

However, he also said a US blockade of Iranian ports would continue until a peace deal was signed.

“Thank you!” Trump wrote on his Truth Social platform, saying Iran had announced that the waterway was “completely open and ready for full passage.”

In another message, Trump wrote that “the naval blockade will remain in full force, but only with respect to Iran, until our agreement with Iran is 100% completed”.

“This process should go very quickly as most of the points have already been negotiated,” Trump said.

Trump told reporters Thursday that a peace deal with Iran was “very close,” despite talks led by his deputy, JD Vance, in Pakistan over the weekend producing no breakthrough.

Abbas Araghchi, Iran’s foreign minister, announced earlier Friday that the strait, critical to global trade in oil and other commodities, would remain “completely open” as long as a ceasefire in the Middle East continues.

It was not immediately clear whether he was referring to the 10-day ceasefire between Lebanon and Israel that took effect at midnight, or to the earlier two-week ceasefire between Iran and the United States that began on April 8.

Oil prices fell by more than 10% on Friday after Iran announced the reopening of the strait. About a fifth of the world’s crude oil usually moves through the strait. Its closure due to the conflict between Iran and the US and its ally Israel, caused oil prices to soar to $120 per barrel at one stage and disrupted the global economy enormously.

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