TEHRAN / DUBAI — After two weeks of a total maritime freeze that paralyzed global energy markets, the Islamic Republic of Iran has announced a partial and highly strategic reopening of the Strait of Hormuz. On Sunday, March 15, 2026, Foreign Minister Abbas Araghchi made the policy official, stating that while the waterway is no longer under a blanket closure, it remains strictly off-limits to "hostile nations" involved in the ongoing military campaign against Iran.
The "Discriminatory" Transit Policy The announcement introduces a "friends and enemies" filter for the 21-mile-wide chokepoint. According to Araghchi, tankers and cargo ships from neutral or friendly countries—specifically those from India, China, and Turkey—will be granted safe passage. However, any vessel belonging to the United States, Israel, or their military allies is still banned. "The Strait of Hormuz is open. It is only closed to the tankers and ships belonging to our enemies, to those who are attacking us and their allies. Others are free to pass," Araghchi stated in a high-profile interview on Sunday.
The Impact of the Two-Week Freeze The total closure, which began following the outbreak of hostilities on February 28, 2026, caused what economists are calling the largest oil supply disruption in history. Major shipping giants like Maersk and MSC suspended all transits, and over 150 tankers were left stranded in the Gulf. The impact was felt most severely by regional neighbors: Saudi Arabia and Kuwait were forced to cut production as storage tanks reached capacity, and QatarEnergy saw its LNG exports grind to a halt.
Iran's Shadow Pipeline to China While the rest of the world’s shipping ground to a halt, Iranian oil continued to reach its primary customer. Data from maritime analysts reveal that Iran has shipped more than 11 million barrels of crude to China since the war began. These "ghost tankers" frequently operate with their tracking systems turned off, allowing them to navigate the strait while staying under the radar of the U.S. naval presence.
Uncertainty and "Yuan-Only" Trade Despite the partial reopening, global insurers remain hesitant to provide coverage for Gulf transits, with war-risk premiums surging by over 1,000%. Furthermore, there are reports that Tehran is considering a new requirement: allowing tankers to pass only if their cargo is priced in Chinese yuan rather than the U.S. dollar. As President Donald Trump calls for an international naval coalition to forcibly reopen the strait, the world remains on edge. While the "Friends-Only" policy may offer a slight reprieve for global oil prices—which have hovered over $100 per barrel all week—the exclusion of U.S.-aligned ships means the world's most vital energy artery is far from fully functional.
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