Iran says ‘non-hostile’ ships can pass safely through Strait of Hormuz

Key Points:

• Iran announced that "non-hostile" ships may transit the Strait of Hormuz with "safe passage," provided they do not support aggression against Iran and comply with safety regulations, coordinating with Iranian authorities.
• The statement follows a significant drop in maritime traffic through the strait, a critical route for about one-fifth of global oil and liquified natural gas supplies, amid the US-Israel conflict with Iran.
• Shipping through the strait has fallen drastically from an average of 120 daily transits to just five, causing a surge in global energy prices and fears of oil reaching $150-$200 per barrel if the strait remains effectively closed.
• US President Donald Trump indicated ongoing negotiations to end the conflict with Iran, contributing to a recent drop in oil prices and gains in major Asian stock markets, including Japan’s Nikkei 225 and South Korea’s KOSPI.
• Iran previously warned of attacks on ships attempting passage but has recently maintained that the strait remains open except to "enemies," although specific navigation regulations were not detailed.