Iran has announced the full reopening of the Strait of Hormuz to commercial shipping, following a ceasefire linked to ongoing tensions in the Middle East.

Foreign Minister Seyed Abbas Araghchi said the decision was part of measures tied to the truce in Lebanon, noting that safe passage has been restored.

“The passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire,” he said.

However, he added that vessels must adhere to designated routes coordinated by Iran’s maritime authorities.

The development has already impacted global markets, with oil prices dropping by more than 11 per cent after the announcement.

United States President Donald Trump welcomed the move, expressing appreciation to Iran in a social media post.

The reopening follows a 10-day ceasefire agreement between Israel and Lebanon, which took effect on Thursday evening, raising hopes of easing tensions in the region.