Iranian Foreign Minister Abbas Araghchi has declared that Tehran alone holds the authority to reopen the Strait of Hormuz, dismissing international calls for a unilateral restoration of full transit access.
The statement reinforces Iran’s position that any resolution to the ongoing disruption must be dictated by Tehran, rather than through external diplomatic pressure or multilateral agreements.
The assertion comes as commercial traffic through the strategic waterway has collapsed to just five vessels, following a recent vessel strike and escalating tensions between Iran and the United States.
With Iran declaring it will exercise sole control over the corridor for the next 30 days, the immediate outlook for global shipping and energy security remains highly uncertain.
The prolonged closure risk continues to weigh on freight rates and energy supply chains, with no clear path to de-escalation in sight.
Markets are pricing in sustained disruption, with Brent crude and shipping equities reflecting the heightened risk premium.