President Donald Trump and the Iranian foreign minister declared Friday that the Strait of Hormuz is back open as part of the 10-day ceasefire between Israel and Lebanon.
The critical waterway for global shipping was effectively closed down for weeks during the U.S.-Israel conflict with Iran.
But Trump also warned that the U.S. blockade of Iranian ports remains in effect until an agreement is reached with Iran.
The deal was also intended to enable broader U.S.-Iran negotiations, but does not require Israeli forces to withdraw, rather maintain positions deep inside southern Lebanon.
Iranian foreign minister Seyed Abbas Araghchi also confirmed the reopening of the Strait for the remainder of the 10-day truce.
U.S. military forces have been supporting freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports.
U.S. Central Command (CENTCOM), which oversees the Middle East, earlier Friday provided an update on the U.S. blockade, declaring that 19 ships have complied with directions from U.S. forces to turn around and return to Iran.
The closure of the Strait has disrupted global energy markets by inhibiting the transport of oil from major producers, such as Saudi Arabia, Iraq, and Iran. Nearly a fifth of global oil and gas supplies previously flowed through the narrow waterway, causing widespread fallout.