U.S. President Donald Trump and Iran’s foreign minister said Friday that the Strait of Hormuz is fully open to commercial vessels. Iran’s top diplomat Abbas Araghchi said the strategic waterway “is declared completely open,” in line with the new ceasefire in Lebanon, and Trump said the strait is “ready for full passage.”

However, Trump added that the U.S. naval blockade on Iranian ships and ports “will remain in full force” until Iran reaches a deal with Washington to end the war.

Oil prices dropped 9% and Wall Street rallied to a record after Iran said the strait is open, allowing tankers to resume shipments from the Persian Gulf. Stocks are heading for a third straight weekly gain, on hopes the U.S. and Iran can avoid a worst-case scenario for the global economy.

A 10-day ceasefire in Israel and Lebanon began at midnight and appears to be holding after more than a month of war between Israel and Hezbollah, although the Iran-backed Lebanese militant group is not a party to the deal. Israeli Prime Minister Benjamin Netanyahu said Israel is “not yet finished” with Hezbollah. The militant group said its response will depend on how events unfold.

The fragile calm has prompted thousands of displaced Lebanese families to head home, with vehicles piled high with mattresses and salvaged belongings backed up for kilometers on a route leading to southern Lebanon. The war displaced over a million people in the tiny country.

The fighting has killed at least 3,000 people in Iran, nearly 2,300 in Lebanon, 23 in Israel and more than a dozen in Gulf Arab states. Thirteen U.S. service members have also been killed.

Here is the latest:

Trump says US will go into Iran and excavate uranium

“The USA will get all the nuclear dust,” Trump said in a speech in Arizona. “We’re going to get it by going in with Iran with lots of excavators.”

Iran has yet to confirm that its agreed to give up the 970 pounds (440 kilograms) of enriched uranium believed to be buried under nuclear sites badly damaged by U.S. military strikes last year.

Giving up the uranium and agreeing to U.S. troops entering Iranian territory would be huge concessions by Iran.

Trump insisted that “no money will exchange hands in any way, shape or form” as part of a potential deal with Iran to end the war.

China willing to take custody of highly enriched uranium from Iran, AP source says

China is open to taking possession or downgrading some 970 pounds (440 kilograms) of enriched uranium that Trump says must be removed from Iran as part of a deal to end the war, according to a diplomat familiar with Beijing’s thinking on the matter.

At the moment, it appears Trump wants the U.S. to take custody of the material that is believed buried under nuclear sites badly damaged in an American bombardment last June.

But China, which is Iran’s biggest trading partner, is signaling it would be open if asked by Washington and Tehran to take the uranium or down-blend to levels that could be used for civilian applications, said the diplomat who was not authorized to comment publicly and requested anonymity to discuss the sensitive matter.

In 2015, under the Joint Comprehensive Plan for Action, Iran shipped approximately 25,000 pounds (11,000 kg) of low-enriched uranium to Russia to meet an essential requirement to fulfill that nuclear deal. — By Aamer Madhani

USS Ford returns to the Middle East

The world’s largest aircraft carrier, the USS Gerald R. Ford, has again entered the waters of the Middle East, two defense officials told the Associated Press.

The Ford, which until recently was operating in the Eastern Mediterranean, transited the Suez Canal, along with a pair of destroyers, the USS Mahan and the USS Winston S. Churchill, and is now operating in the Red Sea, one official said.

Both spoke on condition of anonymity to discuss sensitive military operations.

The Ford is returning to the Red Sea after more than a month in the Mediterranean following a major fire in a laundry space that forced the ship back to port for repairs. The carrier also broke the record for the longest aircraft carrier deployment since the Vietnam war this week.

The Ford’s arrival makes it the second aircraft carrier in the region in addition to the USS Abraham Lincoln in the Arabian Sea. The USS George H. W. Bush is also heading toward the region and is currently off the coast of South Africa, according to one defense official.

Vessel movement remains constrained in the Strait of Hormuz

Data firm Kpler said ship movement through the Strait of Hormuz remained confined to corridors requiring approval on Friday evening, hours after the U.S. and Iran announced full reopening of the strategic waterway.

Iran’s state media reported the country’s conditions to reopen the Strait of Hormuz, which has been effectively closed since the beginning of the war, included that all commercial vessels transiting must go through a route designated by Iran and in coordination with the IRGC Navy.

Kpler said that “markets have responded with cautious optimism” to the reopening decision, but warned that underlying supply dynamics remain tight, and a “full normalization in trade and confidence is likely to take months, not weeks.”

Oil prices fall sharply and Wall Street rallies to a record as Iran reopens the Strait of Hormuz

Oil prices dropped back to where they were in the early days of the Iran war, while U.S. stocks raced to another record.

The S&P 500 leaped 1.2% Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying crude.

The Dow Jones Industrial Average leaped as many as 1,100 points before paring its gain and ended with a jump of about 870 points, or 1.8%, while the Nasdaq composite climbed 1.5%.

A freer flow of oil could take pressure off prices not only for gasoline but also for groceries and all kinds of other products. Oil prices fell 9%.

Iran’s navy chief says Trump’s naval blockade is ‘piracy and maritime theft’

The commander of the Iranian navy, Shahram Irani, said Friday evening that Trump “has blockaded his friends” and not Iran, as the U.S. said its blockade will remain in place after Iran declared the Strait of Hormuz open to commercial traffic.

In a statement carried by Mizan, Iran’s official judiciary news agency, the navy chief said Trump’s blockade is just “empty words” and that no one is listening to him.

The U.S. military says it has turned 19 ships back to Iran since imposing the blockade earlier this week.

Lebanese president says negotiations are ‘not a weakness’ and the country has reclaimed its sovereignty

President Joseph Aoun struck a defiant tone in his first address since a U.S.-brokered ceasefire took hold, saying he wants Lebanon to chart its own course after weeks of war between Israel and Hezbollah.

The president said he wants to see Lebanon “flourishing, not committing suicide.” He condemned Hezbollah’s rocket fire into northern Israel that triggered the latest round of fighting, and criticized Iran’s role in arming and backing the group.

He framed both as violations of Lebanese sovereignty, and again vowed to disarm non-state groups, including Hezbollah.

In a pointed response to Hezbollah’s criticism of Lebanon’s direct talks with Israel and claims that Beirut lacks leverage, Aoun said the country will make its own decisions and stand by demands shared across Lebanese society, not ones dictated by Iran or its allies.

“There will be no concessions to any principle, no infringement of the sovereignty of this country,” he said.

Aoun also reiterated calls for Israel to halt attacks, withdraw troops, release detainees and allow displaced people to return.

US Treasury sanctions Iraqi militias backed by Iran

The U.S. imposed sanctions on seven senior commanders of Iraqi militias that are supported by Iran, including groups like Kataib Hezbollah and Asaib Ahl al-Haq, for allegedly planning and carrying out attacks on U.S. personnel and coalition forces in the region.

Officials have said the move is part of a broader effort to counter Iran’s influence in Iraq and deter further violence against U.S. interests.

The action also signifies a U.S. strategy of using economic pressure, not just military force, to target Iran’s network of allies, while warning global banks and firms to stop doing business with anyone tied to these groups.

“We will not allow Iraq’s terrorist militias, backed by Iran, to threaten American lives or interests,” Secretary of the Treasury Scott Bessent said Friday. “Those who enable these militias’ violence will be held accountable.”

Head of US Central Command says ships are moving through the Strait of Hormuz

“We’ll see what this looks like going forward. But I think we should all remain optimistic,” Adm. Brad Cooper told reporters Friday after Iran announced the vital waterway was open to commercial vessels.

US Central Command leader says military will clear mines in Strait of Hormuz

The top commander in the Middle East confirmed that the U.S. military will be working to clear mines from the Strait of Hormuz but would offer no details on the scope of the task.

“It’s a mission that we’ve undertaken,” Cooper told reporters on a call Friday before adding that he wouldn’t want to “characterize” the extent to which the critical waterway has been mined by Iran as part of a weekslong conflict with the U.S. and Israel.

Cooper said that it was “well within our ability to remove mines.”

Earlier on Friday Trump said in a social media post that “Iran, with the help of the U.S.A., has removed, or is removing, all sea mines!”

US Central Command chief says military still has ‘eyes on every Iranian port’

The top U.S. military leader in the Middle East said Friday that the American naval blockade of ships tied to Iran will remain in place for as long as Trump “says it will remain in effect.”

Adm. Brad Cooper, who leads Central Command, told reporters on a phone call that “U.S. forces have eyes on every Iranian port.”

“We are watching every Iranian ship in every port. Period. Full stop,” Cooper said, adding that the U.S. military presence can stay in the region indefinitely.

“We’re well-provisioned. We’re well-manned. We have all the forces necessary to sustain this for as long as necessary,” Cooper said.

Iran threatens ‘reciprocal measures’ if US blockade continues

In comments published by Iranian state media Friday, Foreign Ministry spokesperson Esmail Baghaei slammed the ongoing U.S. blockade of Iranian ports as a violation of the ceasefire agreement.

He said the Strait of Hormuz remains under the supervision of Iran, which is serious about its commitments. But if the U.S. violates its own commitments, then “Iran will take the necessary reciprocal measures.’’

“No leniency will be shown in this regard,” he said.

First cruise ship transits the Strait of Hormuz since the Iran war began

The vessel-tracker MarineTraffic said the Malta-flagged passenger vessel, reportedly sailing without passengers and bound for Oman, departed Dubai on Friday after remaining docked for 47 days.

It said the Celestial Discovery ship is expected to arrive in Oman on Saturday.

Hours earlier, Iran and the U.S. said the strategic waterway, which has been effectively closed since the beginning of the conflict, will be fully open to commercial traffic.

UN chief says opening the Strait of Hormuz is ‘a step in the right direction’

Secretary-General Antonio Guterres reiterated the United Nations’ position: “We need the full restoration of international navigational rights and freedoms in the Strait of Hormuz to be respected by all parties,” his spokesman said.

Guterres supports diplomatic efforts “to find a peaceful path forward out of the current conflict in the Middle East,” U.N. spokesman Stephane Dujarric said.

“He also hopes that, together with the ceasefire, this measure will contribute to creating confidence between the parties and strengthen the ongoing dialogue facilitated by Pakistan,” the spokesman said.

What exactly did Trump ‘prohibit’ Israel from striking in Lebanon?

The State Department said Trump’s announced prohibition on Israeli strikes inside Lebanon applies only to offensive attacks and not to actions taken in self-defense, and referred to the third point of Wednesday’s agreement by Israel and Lebanon.

That point says “Israel shall preserve its right to take all necessary measures in self-defense, at any time, against planned, imminent, or ongoing attacks.” It adds that Israel “will not carry out any offensive military operations against Lebanese targets, including civilian, military, and other state targets, in the territory of Lebanon by land, air, and sea.”

With the ceasefire only a few hours old, Israel has already launched at least one deadly drone strike in southern Lebanon, according to the health ministry there. During the previous ceasefire, Israel struck what it said were Hezbollah targets almost daily.

Trump suggests a second round of direct US-Iran talks could happen this weekend

“The Iranians want to meet,” Trump said in a brief telephone interview with the news outlet Axios. “They want to make a deal. I think a meeting will probably take place over the weekend.”

Despite the ceasefire, an Israeli drone strike in Lebanon kills 1 person

An Israeli strike in the area of Kounine hit a car and a motorcycle, killing one person and wounding three, including a Syrian citizen, Lebanon’s health ministry said Friday. It was the first airstrike and first fatality reported since a 10-day truce between Israel and the Lebanese militant group Hezbollah took effect overnight.

The Lebanese army and U.N. peacekeepers in southern Lebanon had reported sporadic artillery shelling in some parts of the south in the hours after the ceasefire took effect.

The Israeli army did not immediately respond to a request for comment. Israel has maintained that it still has the right to strike in Lebanon in response to perceived threats despite the ceasefire. There was no immediate response from Hezbollah.

Thousands head home as US-brokered truce holds in Lebanon

A fragile calm settled over parts of Lebanon on Friday as a 10-day ceasefire brokered by the United States took hold between Israel and Hezbollah, prompting thousands of displaced families to begin the journey home — even as uncertainty, destruction and Israeli warnings against going back to parts of southern Lebanon clouded their return.

By early morning, cars were backed up for kilometers on the route leading south to the damaged Qasmiyeh bridge over the Litani River, a key crossing linking the southern coastal city of Tyre to the north. Vehicles piled high with mattresses, suitcases and salvaged belongings crept forward through a single reopened lane, hastily repaired after an Israeli airstrike just a day earlier.

Drivers heading back to their villages along coastal highways cheered each other, flashed victory signs and exchanged blessings.

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Iranian media reports a challenge to the FM’s post declaring Strait of Hormuz open

Two semiofficial news agencies in Iran are casting doubt on an earlier announcement from Iran’s top diplomat, Abbas Araghchi, that the Strait of Hormuz was being opened to global traffic.

Considered close with the powerful Revolutionary Guard, Fars news agency appeared to challenge Iran’s reported decision to open the strait in a series of posts on its X account.

The posts condemned a “strange silence from the Supreme National Security Council and the negotiating team.”

Iran’s Supreme National Security Council has recently acted as the de facto top decision-making body in the country, as doubts swirl over the status of the new supreme leader, Mojtaba Khamenei, who was reportedly injured early in the war.

Mehr news agency also has said that the reported decision to reopen the strategic waterway needed “clarification” and “requires the (Supreme) Leader’s approval.”

Netanyahu says Israel is ‘not yet finished’ with Hezbollah

Prime Minister Benjamin Netanyahu said Israel agreed to a temporary ceasefire in Lebanon “at the request of my friend President Trump,” but said the campaign against Hezbollah is not yet complete.

Netanyahu claimed Israel had destroyed about “90%” of Hezbollah’s missile and rocket stockpiles, but added “we have not yet finished” dismantling the group.

His statement came shortly before Trump said, in a social media post, that Israel was prohibited by the U.S. from bombing Lebanon any longer, adding: “Enough is enough!!!”

Trump claims Iran agrees to ‘never close the Strait of Hormuz again’

Iran has not made any public comment suggesting it has offered such assurances.

The blocking of most tankers that use the critical waterway, through which about 20% of the world’s crude flows on a typical day, has led to a global surge in fuel prices and has impacted other facets of the global economy.

The U.S. is far less reliant than Asia and Europe on Persian Gulf energy.

Still, the closure of the strait contributed to the largest monthly inflation increase in the U.S. in four years last month.

Oil tumbles 10% and the Dow soars more than 1,000 points

Oil prices fell by 10%, and the Dow Jones Industrial Average soared 1,020 points after Iran said the Strait of Hormuz is fully open, which would allow oil tankers to exit the Persian Gulf again and carry crude to customers worldwide.

The S&P 500 jumped 1.3% in morning trading Friday as U.S. stocks race toward the finish of a third straight week of big gains. The Nasdaq composite climbed 1.5%. Stocks have rallied 12% since late March on hopes that the United States and Iran can avoid a worst-case scenario for the global economy.

Lebanese army to secure south as Lebanon pushes Israeli withdrawal, Aoun says

Lebanese President Joseph Aoun said the Lebanese army will play a “fundamental role” after the Israeli pullout, deploying in southern Lebanon and ending non-state armed presence.

Speaking to a delegation of Beirut members of parliament on Friday, Aoun said among the state’s priorities are consolidating the ceasefire, pushing for the withdrawal of Israeli forces, recovering Lebanese detainees and addressing pending border disputes with Israel.

Aoun cited Thursday’s phone call in which Trump expressed “support for Lebanon, its sovereignty, independence and the integrity of its territories,” describing it as one of the ceasefire’s most prominent signals of external support as negotiations advance.

Death toll of Lebanese killed in Israeli strikes increases to 2,294

Intense Israeli strikes on Thursday, one day before a 10-day U.S.-brokered ceasefire, killed 98 people, Lebanon’s health ministry said.

Since the latest war between Israel and Hezbollah erupted on March 2, at least 2,294 people have been killed, including 274 women and 177 children, according to the ministry. Another 7,185 people have been wounded, it added.

Trump again suggests Iran has agreed to hand over enriched uranium

“The U.S.A. will get all Nuclear ‘Dust,’ created by our great B2 Bombers - No money will exchange hands in any way, shape, or form,” Trump said in a social media post.

“Nuclear dust” is shorthand that Trump frequently uses to refer to the highly-enriched uranium believed to be buried under nuclear sites that the U.S. bombed during last year’s 12-day war between Israel and Iran.

If true, it would be a major concession from Iran and would lock in a key U.S. demand to end the conflict. But neither Iran nor countries acting as intermediaries in the conflict have said that Tehran has made such an agreement.

Trump on Thursday also asserted that Iran has “agreed to give us back the nuclear dust.”

German chancellor seeks US involvement in mission to secure Strait of Hormuz

German Chancellor Friedrich Merz said Friday he wants U.S. involvement in a Europe-led mission to secure shipping through the Strait of Hormuz.

Speaking after an international conference in Paris on securing the strait, German Chancellor Friedrich Merz said Germany could contribute mine clearance and maritime intelligence capabilities to such a mission, but would need parliamentary support and a ″secure legal basis″ such as a U.N. Security Council resolution.

He said Germany, ″if possible, would also like to see the United States of America participate; we believe this would be desirable.″