Iran exempts Iraq from Hormuz restrictions as oil hits $111 pb 

Iran on Saturday announced the exemption of “brotherly Iraq” from limitations imposed in relation to passage through the Strait of Hormuz.

“The restrictions apply only to hostile countries,” the Khatam al-Anbiya Central Headquarters of the Iranian Armed Forces emphasized in a statement.

The blockade of the Hormuz Strait and the escalating tensions in the Persian Gulf have caused oil prices to trade near four-year highs as 15-20 million barrels of daily oil production are affected.

As of April 5, WTI Crude has hit $111 per barrel, while Brent Crude is trading above $109. Analysts have projected $150–$200 per barrel by mid-late April if the Middle East situation doesn’t ease.

The United States has deployed additional troops and assets to the region ahead of a potential forceful takeover of the Hormuz Strait, Kharg Island, and other key areas.

If a ground operation is approved, the U.S. would have to rely on its major ally, Israel, and friendly Gulf states, as most European allies remain reluctant to join the military operation.

President Donald Trump has hinted at a major offensive, reminding Iran of his ten-day window to make a deal. “Time is running out – 48 hours before all hell will reign down on them,” he wrote.

In another Truth Social post on Saturday, Trump said many of Iran’s military leaders, “who have led them poorly and unwisely,” were eliminated in another night strike in Tehran.

Iran’s Foreign Minister Abbas Araghchi has denied media reports that their side is downplaying Pakistan’s peace efforts and refusing to go to Islamabad for negotiations.

Writing on X, the top diplomat stated that what his country cares about is “the terms of a conclusive and lasting end to the illegal war that is imposed on us.”

Araghchi also said the U.S. and Israel have now bombed the Bushehr Nuclear Power Plant four times, warning that “the radioactive fallout will end life in GCC capitals, not Tehran.”

Russia condemned the latest strikes in a statement, saying the aggressors continue to pound Iran’s nuclear power infrastructure “thoughtlessly and even with some unhealthy excitement.”

The Foreign Ministry said the actions stain the international reputation of Tehran’s adversaries, and called for an impartial assessment during the NPT Review Conference at the UN starting April 27.

Iran exempts Iraq from Hormuz restrictions as oil hits $111 pb