Hundreds of ships remained stationary in the Strait of Hormuz despite an announced preliminary agreement between the United States and Iran aimed at extending a fragile ceasefire and reopening the strategic waterway.
US President Donald Trump said vessels were “starting to move” under the agreement, with many carrying oil. However, shipping analysts said maritime traffic was still limited and a full reopening had not yet taken place.
The details of the agreement have not been officially released, but Pakistani officials said the memorandum of understanding (MoU), which Pakistan helped broker, involves Iran lifting its closure of the Strait of Hormuz and the US ending its blockade of Iranian ports.
The two countries are expected to begin 60 days of negotiations focusing on Iran’s nuclear programme and possible sanctions relief.
Iran indicated that implementation would begin after the agreement is formally signed in Switzerland on Friday.
The Strait of Hormuz, one of the world’s most important oil routes, has faced disruption following the recent US-Israel conflict with Iran. The closure has affected global energy markets, causing increases in fuel prices and raising concerns about food and commodity costs.
The waterway connects the Persian Gulf with the Gulf of Oman and handles a significant portion of global oil shipments, making its security critical for international trade.
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