Iran has used access to vital waterways as leverage in its war against the United States and Israel, driving up fuel prices and destabilizing the global economy.
President Trump announces two-week ceasefire with Iran
President Donald Trump announced that the United States had reached a two-week ceasefire with Iran, just hours before a deadline he imposed.
President Donald Trump agreed on April 7 to halt bombing Iran on condition that it relinquish control of the Strait of Hormuz, a critical oil shipping route that affects the global oil economy.
The Strait is a 160-mile waterway that connects the Persian Gulf, the Gulf of Oman, and the Arabian Sea. Approximately 20% of the world’s oil and natural gas supplies pass through this narrow strait. Since the war began on February 28, Iran has responded to attacks by effectively cutting off traffic in the strait.
Iran’s move to turn the strait into a strategic pressure point in its fight with the United States and Israel is likely a key issue in the war. Gasoline prices have soared. The world economy was shaken by the impact of the strait closure on financial markets, and the president suffered a stroke as his popularity waned due to Iran’s closure of the strait.
“Open the F—— Strait, you crazy bastards, or you’ll live in hell,” the president wrote in a social media post at 8 a.m. on Easter Sunday, threatening to blow up Iranian civilian infrastructure if the strait wasn’t opened by April 7.
Around the time President Trump announced the ceasefire, the average price of a gallon of gas nationwide had risen to $4.16 from $2.82 at the beginning of the year. Financial markets reacted positively to this announcement, but they fell by several thousand points compared to prewar levels.
Leaders on both sides have suggested that lasting peace depends on access to the strait.
In announcing the ceasefire, President Trump said, “We agree to suspend bombings and attacks on Iran for two weeks, provided that the Islamic Republic of Iran agrees to the full, immediate, and safe opening of the Strait of Hormuz.”
Meanwhile, Iran promised to allow shipping to resume “if attacks on Iran cease.”
Iran’s Foreign Minister Seyyed Abbas Araghchi said in a statement: “If attacks on Iran cease, our powerful armed forces will cease defensive operations.” “Safe passage through the Strait of Hormuz will be possible for two weeks, subject to coordination with the Iranian Armed Forces and due consideration of technical limitations.”
Israel has also agreed to abide by the cease-fire pending access to the Strait, a White House official confirmed to USA TODAY.
