Iran Declares Strait of Hormuz 'Completely Open'; Trump Maintains Naval Blockade

Iran's foreign minister declared the Strait of Hormuz 'completely open' to all commercial shipping on April 17, 2026 — prompting a sharp 10%+ drop in global oil prices. Trump acknowledged Iran's announcement, posting 'Thank you' on Truth Social, but immediately clarified that the US Navy blockade 'will remain in full force' until a comprehensive long-term peace agreement is reached. Trump hinted at a broader deal framework and reportedly set an April 22 deadline coinciding with the ceasefire expiration. Iran's state TV characterized the opening as under 'strict management and control' by Iranian military, with restrictions on ships linked to hostile nations — creating ambiguity about the actual scope of re-opening.