Iran’s Islamic Revolutionary Guard Corps (IRGC) joint military command said Saturday that control of the Strait of Hormuz has “returned to its previous state” and that the waterway is now “under strict management and control by the armed forces.” The IRGC said restrictions will remain in place until the U.S. fully lifts its blockade of Iranian ports.
The announcement followed remarks by President Donald Trump the previous day saying the U.S. naval blockade of Iran would continue and that attacks could resume if no agreement is reached before the current ceasefire with Iran expires next week. Aboard Air Force One, Trump told reporters, “Maybe I won’t extend it, so you’ll have a blockade and unfortunately we’ll have to start dropping bombs again,” though he also predicted a deal was likely.
Iran had earlier said the Strait of Hormuz was open to commercial ships along a coordinated route. Iranian Foreign Minister Abbas Araghchi announced the passage was “completely open.” Trump posted that the strait was “completely open and ready for business and full passage” while insisting the naval blockade “will remain in full force and effect as it pertains to Iran” until U.S. transactions with Iran are complete. Iranian officials warned they would act reciprocally if the blockade continues. Trump also said Iran was removing sea mines with U.S. assistance.
The U.S. Treasury announced an extension of a pause on sanctions on Russian oil shipments to ease shortages caused by disruptions from the Iran war — a move Treasury Secretary Scott Bessent had previously ruled out.
The developments followed a temporary ceasefire between Israel and Hezbollah that took effect overnight. World leaders urged restraint and called on all parties to respect the truce. Trump hailed the ceasefire as a “historic day” for Lebanon and publicly pressed Israel to uphold the agreement, saying on Truth Social that “Israel will not be bombing Lebanon any longer.” He also invited Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun to the White House for peace talks.
Netanyahu said the ceasefire might open the door to broader talks with Lebanon but stressed Israel would not withdraw from what he described as an expanded 10-kilometer security buffer in southern Lebanon and that any negotiation would hinge on Hezbollah’s disarmament. Lebanon’s prime minister, Nawaf Salam, called the agreement a central Lebanese demand and hoped displaced residents could return home soon. U.N. Secretary-General António Guterres welcomed the truce and urged full respect for it. Pakistani Prime Minister Shehbaz Sharif, credited with helping mediate the U.S.-Iran ceasefire, also welcomed the pause and called it a step toward “sustainable peace.”
Hezbollah urged displaced civilians not to return to southern Lebanon, the Bekaa Valley or Beirut’s southern suburbs until the situation is clearer; the Israeli military gave similar safety warnings. Hezbollah said any ceasefire must apply across Lebanon and warned that any continued Israeli presence could leave Lebanon with the right to resist. The group has both a political wing in Lebanon’s parliament and an armed militia that acts largely independently and receives backing from Iran. Lebanon’s government supports a ceasefire before broader diplomatic negotiations; Hezbollah opposes talks.
Despite warnings, thousands displaced by weeks of fighting began heading home after the ceasefire went into effect to assess damage. The war has displaced an estimated 1.2 million people in Lebanon, according to U.N. and Lebanese figures. Many returnees described heartbreak and uncertainty. Lebanese officials say Israeli forces have destroyed more than 40,000 homes in southern Lebanon as part of efforts to create a security buffer to prevent Hezbollah rocket fire. The latest fighting began after Hezbollah launched rockets into northern Israel following U.S. and Israeli strikes on Iran on Feb. 28; Israel responded with airstrikes and a ground invasion of southern Lebanon. Netanyahu said Israel did not intend to withdraw soon, adding, “we are not leaving,” while calling the path to peace long but begun.
European leaders met in Paris to press for a long-term approach to restoring freedom of navigation in the Strait of Hormuz, through which roughly 20% of the world’s crude oil and natural gas typically passes. French President Emmanuel Macron and British Prime Minister Keir Starmer — who hosted the summit — welcomed Iran’s announcement that the strait had opened but said a durable, workable solution is needed. Leaders from dozens of countries, including Italy’s Giorgia Meloni and Germany’s Friedrich Merz, attended.
Attendees agreed the strait should be open without tolls or restrictions. Macron described proposed efforts as “strictly defensive”: demining the route, intelligence sharing, military escorts for commercial vessels and measures to ensure Iran does not charge passage fees. The U.S. was not involved in the talks. The route had been effectively choked off by the war and by Iran’s actions, and retaliatory attacks on Gulf oil and gas facilities further disrupted global supplies, prompting sharp market moves — oil prices tumbled and stock markets rallied on the ceasefire and reopening announcements.
The conflict has taken a heavy economic toll across the region. An International Monetary Fund report said the hardest-hit economies are Iran, Iraq and Qatar. The IMF projected nearly a 9% contraction for Qatar this year because of a suspension of gas production, a 6% shrinkage for Iran, and nearly a 7% contraction for Iraq — assuming the current ceasefire holds and energy production returns to normal by June. Energy importers such as Egypt, Jordan, Lebanon and Pakistan are also facing larger fiscal deficits due to higher oil and gas prices.
The situation remains fragile: Iran’s IRGC asserts control of the strait pending a U.S. lift of its blockade, global leaders press for safe, toll-free navigation, and the ceasefire that eased immediate hostilities could expire next week, raising the prospect of renewed military action if diplomatic talks do not produce a lasting agreement.