On May 3, US President Donald Trump announced that the US would guide ships through the Strait of Hormuz.
Mr. Trump said that the US will begin guiding ships from May 4, and said that this is a response to the fact that some other countries - he did not name them, but said they are not involved in the conflict. These countries have asked the US to support the release of ships stranded on this important sea transport route.
For the benefit of Iran, the Middle East and the United States, we have informed these countries that we will guide their ships out of restricted waters safely, so that they can freely continue their business operations," Trump wrote on Truth Social.
Mr. Trump added that the operation to guide ships through Hormuz will be named "Project Freedom" and the intermediaries have conveyed the message about his decision to affected countries.
The US President also admitted that discussions with Iran are still ongoing and "may lead to something very positive for all parties".
Moving ships is only to liberate individuals, businesses and nations who have done nothing wrong. They are victims of circumstances. This is a humanitarian gesture on behalf of the US, the Middle Eastern countries but especially Iran" - Mr. Trump added.
Mr. Trump warned that if US efforts to guide ships are hindered, "it will have to be handled with strong measures".
Oil prices fell 2% after Mr. Trump's announcement on May 3.
This announcement was made when a cargo ship near the Strait of Hormuz was attacked by several small ships on the same morning.
Last month, the International Maritime Organization (IMO) under the United Nations condemned the attacks and seizures of merchant ships.
I once again call for an end to these reckless actions and for the immediate release of innocent ships and sailors," IMO Secretary-General Arsenio Dominguez said.
The ceasefire agreement between Washington and Tehran is still maintained, but it is unclear what the content of a long-term peace agreement will be.
On May 2, Mr. Trump said he was considering a proposal from Iran to end the conflict, but signaled little likelihood of the US accepting it. He also left open the possibility of resuming attacks on Iran.
Since the conflict broke out, Iran has blockaded the Strait of Hormuz for most transportation activities, except for its ships. The US has imposed a blockade on this strait since April 13.
Last week, a Kpler report said that Iran is rapidly running out of oil storage capacity and the amount of crude oil pumped by this country onto oil tankers has decreased by nearly 70% since the US began blockades.
