Trump Bets Economic Pain Will Finally Force Iran to Reopen Strait | World News

In Iran, on 17 April 2026, Iran's foreign minister declared the Strait of Hormuz 'completely open' for the rest of the ceasefire period, after the Israel-Lebanon truce. Oil prices fell by between 9% and 13% depending on the report, and Wall Street indexes rallied, with the Dow up 900 points according to CNN. Trump said the blockade on Iranian ships and ports will stay in force, and Iran's top negotiator threatened to close the strait again if the blockade continues.

Shipping companies asked for clarification before crossing, and BBC World said tracking showed few ships moving. An Iranian official said the opening depends on compliance with the ceasefire, and Al-Ahram, citing the Wall Street Journal, reported that Iran told mediators it will keep charging transit fees for the rest of the ceasefire.