The Epaminondas ship is seen during seizure by the Islamic Revolutionary Guard Corps (IRGC) in the Strait of Hormuz, Iran, on April 24, 2026. Meysam Mirzadeh/Tasnim/WANA via Reuters
It could take 90 days to convince ships and their insurers the Strait of Hormuz is clear of menace, and up to nine months for Gulf State oil and petrochemical industries to restore production to February 2026 capacities, according to projections by market analysts, shipping operators, and supply chain experts.
The memorandum of understanding ending the United States’ and Israel’s four-month war against Iran, sealed June 13 and electronically signed June 17 in France, will not be a binding treaty but an interim agreement that requires Iran to reopen the Strait of Hormuz without tolls and the U.S. Navy to lift its blockade of Iranian shipping.
