US Military Says Iran Port Blockade to Stay Until June 19 Deal Is Implemented

The US military said its blockade of Iranian ports will remain in place until a US-Iran agreement is implemented on June 19. Expectations for a deal have increased, but existing restrictions will stay in effect until the formal process is completed.

Crypto-focused media outlet Odaily reported on June 15 that the US military said the blockade would remain valid until the scheduled June 19 agreement with Iran is carried out.

The military said ships affected by the blockade should not attempt to pass through the restricted zone until they receive clear instructions.

The announcement followed comments from US Vice President Vance that the agreement between Washington and Tehran had already been concluded through electronic signatures. A formal signing ceremony and implementation procedures are scheduled for June 19, raising the possibility that the maritime blockade will be lifted in stages in line with that timeline.

The Strait of Hormuz and the blockade of Iranian ports have recently emerged as key variables for the oil market. Market participants say that if the agreement is implemented as planned, concerns about oil supply disruptions could ease, along with pressure on crude prices and inflation.

Still, the decision to keep the blockade in place for now means maritime shipping risks have not been fully resolved ahead of the agreement's implementation. Markets are watching the June 19 signing ceremony, any further instructions from the US military and whether traffic through the Strait of Hormuz returns to normal.