Iran won't reopen the Strait of Hormuz on Wednesday despite the ceasefire announced along with the U.S., according to a new report.
Reuters journalist Phil Stewart quoted a senior Iranian official in a social media publication, saying the country could reopen the key waterway, through which about 20% of the world's energy passes, on Thursday or Friday if a framework for a ceasefire is reached in meetings with the U.S. in Pakistan that are set to take place on Friday.
The official went on to claim that the reopening will be limited and all passage through it will have to be coordinated with the Iranian military.
SENIOR IRANIAN OFFICIAL TO REUTERS: IRAN COULD OPEN HORMUZ ON THURSDAY OR FRIDAY AHEAD OF MEETING WITH U.S. IN PAKISTAN IF CEASEFIRE FRAMEWORK REACHED
— Phil Stewart (@phildstewart) April 8, 2026
SENIOR IRANIAN OFFICIAL TO REUTERS: REOPENING WOULD BE LIMITED AND IN COORDINATION WITH IRANIAN MILITARY STILL REQUIRED FOR ALL…
Elsewhere, the Financial Times reported that Tehran will demand all vessels to pay a fee of $1 per barrel of oil in cryptocurrency.
The state of the strait is unclear, especially after President Donald Trump said he is considering a joint U.S. venture with Tehran to charge vessels.
ABC News' journalist Jonathan Karl said in a social media post that the potential agreement is a "way of securing" the key waterway, through which about 20% of the world's energy passes. "Also securing it from lots of people. It's a beautiful thing," he added.
Hostilities are also continuing in the meantime. A key Saudi pipeline taking oil to the Red Sea was hit by a drone attack on Wednesday, hours after a regional ceasefire between the U.S. and Iran was announced, according to another report.
Reuters detailed that the East-West pipeline was the country's only wait to export crude following the closure of the Strait of Hormuz as a result of the war.
Concretely, it was diverting about 7 million barrels a day to the port of Yanbu. Flows are now expected to be affected, the outlet noted, citing a source familiar with the development. Damage is still being assessed.
