Hormuz traffic to return to pre-war levels within 30 days after peace deal: Iran

A draft understanding under discussion between Washington and Tehran proposes that shipping through the strategic waterway would return to pre-war levels within 30 days, according to Iran's semi-official Tasnim news agency.

In Short

• Tasnim said shipping levels could return to normal within 30 days
• The naval blockade around the waterway would be fully lifted first
• Part of Iran's frozen overseas funds may be released initially

After months of war, soaring oil prices and mounting fears of a regional collapse, the United States and Iran now appear closer than ever to a deal that could reopen the Strait of Hormuz and ease one of the biggest global energy disruptions in recent years.

A draft understanding under discussion between Washington and Tehran proposes that shipping through the strategic waterway would return to pre-war levels within 30 days, according to Iran's semi-official Tasnim news agency. The report said the naval blockade around the strait would be fully lifted during that period, while part of Iran's frozen overseas funds would also be released in the first phase of the agreement.

The possible breakthrough comes nearly three months after conflict erupted between Iran, the US and Israel, which forced severe disruptions in maritime traffic through the Strait of Hormuz. Before the war began in February, around 125 to 140 ships crossed the strait daily. Since then, vessel movement has dropped sharply as Iran tightened control over the waterway and the US imposed blockade on shipping linked to Iranian ports.

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