President Trump declared that the Strait of Hormuz would remain open to all nations under any agreement reached with Iran. No single country, he said, would control the chokepoint.
The waterway that moves the world’s oil
The Strait of Hormuz is a narrow passage between Iran and the Arabian Peninsula. Roughly 20% to 25% of global oil shipments pass through it on any given day.
Trump’s announcement, made over May 23-24, signals that negotiators are working toward a framework where the Strait stays open regardless of which government is having a bad week. The practical mechanism: a proposed 60-day interim period to formally reopen the route, subject to approval from both nations.
Bitcoin initially dropped when the US-Iran conflict escalated. After Trump’s comments about keeping the Strait open, Bitcoin rebounded.
