The ceasefire between the US and Iran, established on April 7-8, has been prolonged until the conclusion of nuclear and political discussions, but its main objective—reinstating commercial shipping through the Strait of Hormuz—has yet to be realized. Shipping firms have mostly declined to return to the strait due to ongoing safety issues and the persistent dual blockade: Iran limiting access for non-registered vessels while the US continues its counter-blockade of Iranian ports. This disruption has sustained upward pressure on global oil and LNG prices for the past three months. France and the UK have suggested creating a multilateral protective escort operation once a durable ceasefire is verified, but such verification has not yet been received.
