Clayton Seigle
The ceasefire announced by President Trump on April 7 implicitly acknowledges Iran’s newfound control over Gulf energy flows—a strategic challenge for oil market stability and the interests of Gulf Arab exporting countries. The United States has halted the military campaign it started six weeks ago with Tehran poised to call the shots on oil and gas exports. As was the case prior to the ceasefire, tanker vessels will require Iran’s approval to exit the Gulf, which may be conditioned on a new tolling fee arrangement.
Following Trump’s announcement, Iranian Foreign Minister Abbas Araghchi stated: “For a period of two weeks, safe passage through the Strait of Hormuz will be possible via coordination with Iran’s Armed Forces and with due consideration of technical limitations.”
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