Commercial shipping through the Strait of Hormuz has reached its highest daily level since the outbreak of the Iran conflict in late February, with at least 35 commodity carriers crossing on Monday, according to maritime analytics firm Kpler. The figure represents roughly one-third of the peacetime average of 120 daily transits, but marks a clear increase from the fewer than 10 vessels per day recorded during the most acute phase of the blockade. India's Ministry of External Affairs confirmed that 11 India-bound vessels, including three Indian-flagged crude oil tankers, have successfully transited the strait since the US-Iran memorandum of understanding was signed on 17 June. The UN's International Maritime Organization separately announced a large-scale operation, in coordination with Iran, Oman, the United States and the shipping industry, to evacuate more than 11,000 mariners stranded in the Gulf during the hostilities.

Viewed from Tehran, the reopening is being framed as a permanent shift in the strait's administration. Iran's chief negotiator, Mohammad Bagher Ghalibaf, stated that "the management of the Strait of Hormuz will never return to what it was before the war" and that Iran will administer the waterway. The Iranian ambassador to the UN in Geneva, Ali Bahreini, confirmed the strait is "completely open" and that no tolls will be charged for 60 days, but added that future arrangements will be discussed with Oman and that the situation "will not be the same as before the war". Conflicting signals have emerged from within the Iranian system: the Islamic Revolutionary Guard Corps announced on Saturday that the strait had been closed in response to Israeli strikes on Lebanon, while a military source told the Tasnim agency that daily transits would be capped. According to the memorandum, Iran committed to using its "best efforts for the safe passage of commercial vessels with no charge for 60 days" and to working with Oman to "define the future administration and maritime services" of the strait.

Washington has responded with a temporary suspension of sanctions on Iranian oil, petrochemicals and related transactions until 21 August, a move that has enabled at least 30 tankers laden with Iranian crude to depart the Gulf since the deal. The US Treasury also issued a license allowing the sale of Iranian hydrocarbons, and previously sanctioned vessels have been observed moving through the strait. However, the main central shipping channel remains closed due to sea mines, with the Joint Maritime Information Center warning vessels to avoid it and reporting active mine-clearance operations. Ships are transiting via the Iranian-approved northern route or the southern route near Oman. GPS spoofing, which was widespread during the conflict, has noticeably decreased in recent days, according to ship-tracking data analysed by CNN. Maritime law specialists note that any future imposition of tolls for simple transit would violate the UN Convention on the Law of the Sea, which guarantees freedom of transit passage through international straits.

The memorandum initiated a 60-day process aimed at reaching a final peace agreement. A first round of face-to-face negotiations concluded in Switzerland on 22 June, with both sides agreeing to form four working groups on sanctions lifting, nuclear issues, indemnity payments and verification. President Donald Trump claimed that Iran had agreed to permanent nuclear inspections, a statement Tehran promptly denied. The US has maintained that it will keep naval assets near the strait and could reimpose the blockade if necessary. Analysts in London note that even if a final agreement is reached, it could take months for oil, gas and commodity flows to return to pre-war levels, given the lingering uncertainty over the strait's legal regime and the operational risks that continue to deter insurers and shipowners.