The path to normalizing shipping through the Strait of Hormuz is blocked by political conditions, with Iranian analysts insisting that full transit access depends on concrete commitments from the United States.
This stance complicates efforts to restore pre-conflict trade flows, even though the waterway has officially reopened to navigation.
While the Strait is technically open, vessel traffic remains heavily constrained.
The return to normalcy is expected to be gradual and uneven, as shippers and insurers assess the lingering risks of the corridor.
Iranian Foreign Minister Abbas Araghchi has previously stated that the responsibility for reopening the Strait rests solely with Tehran, rejecting external pressure to unilaterally restore full transit access.
The geopolitical standoff continues to weigh on energy markets.