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Business News India: Latest Business News Today, Share Market, Economy

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Trump shares critical update on Hormuz blocade after Iran...
2026-04-17 · via Business News India: Latest Business News Today, Share Market, Economy

The statement comes amid heightened tensions in the region, where concerns over energy security and shipping routes have already rattled global markets.

Donald Trump has said the US naval blockade targeting Iranian ports will remain “in full force,” even as he claimed that the strategically critical Strait of Hormuz is “completely open and ready for business.”

In a post on Truth Social, Trump stated that while commercial passage through the Strait of Hormuz is unaffected, restrictions specifically aimed at Iran will continue until ongoing negotiations between Washington and Tehran are fully concluded.

Writing in all caps, he said the blockade would stay in place “until such time as our transaction with Iran is 100% complete,” adding that the process is expected to move quickly since “most of the points are already negotiated.”

The Strait of Hormuz is one of the world’s most vital oil transit chokepoints, making any military or trade restrictions in the region highly sensitive for global energy markets. Trump’s remarks suggest a dual-track approach — maintaining pressure on Iran through naval measures while signalling progress in diplomatic talks.

The statement comes amid heightened tensions in the region, where concerns over energy security and shipping routes have already rattled global markets.

Meanwhile, Iran’s foreign minister Abbas Araghchi said that commercial shipping through the Strait of Hormuz will remain fully open during the ceasefire period.

Making the announcement on April 17 in a post on X (formally twitter), Araghchi said, “In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.”

Following Iran’s announcement that the strait of Hormuz is open, Donald Trump has issued his response in an all caps post on his Truth Social app.
“IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” he wrote. 

Following Abbas Araghchi’s announcement, oil prices tumbled sharply, dropping about 9% and extending earlier losses. According to a Reuters report, Brent crude futures fell by $8.46, or 8.5%, to $90.93 a barrel at 1300 GMT. 

Published on: Apr 17, 2026 7:14 PM IST