Ishaq Dar, Pakistan’s foreign minister, announced the move on Saturday, posting on X that two ships would cross daily under the arrangement.

He described Iran’s decision as “a harbinger of peace”, which could help restore stability to a region on the edge, hailing it as a “welcome and constructive gesture”.

Notably, he addressed his post directly to US Vice President JD Vance, Secretary of State Marco Rubio, US envoy Steve Witkoff and Iranian Minister of Foreign Affairs Abbas Araghchi, a signal that Islamabad, which is engaged in diplomatic efforts to end the war, views the deal as far more than a bilateral shipping agreement.

The strait has been effectively shut since the United States and Israel launched coordinated strikes on Iran on February 28, killing Supreme Leader Ali Khamenei and triggering a war that has killed about 2,000 Iranians and more than 1,100 people in Lebanon, and sent shockwaves through global markets.

“The Strait of Hormuz is not an oil chokepoint,” former Qatari minister Mohammed Al-Hashemi wrote in a column for Al Jazeera this week. “It is the aortic valve of globalised production – and like any valve, when it fails, the entire circulatory system collapses.”

As an estimated 2,000 vessels are stranded on either side of the narrow waterway, oil has surged past $100 a barrel, up by roughly 40 percent.

Iran’s Islamic Revolutionary Guard Corps (IRGC) has, in the meantime, turned the strait into something resembling a checkpoint. Ships seeking passage must submit their cargo details, crew lists and destinations to IRGC-approved intermediaries, receive a clearance code, and be escorted through Iranian territorial waters.

At least two vessels have paid for the privilege, reportedly $2m a crossing, settled in Chinese yuan.

Iran’s parliament is now moving to legalise this arrangement as a possible source of revenue.

Malaysian Prime Minister Anwar Ibrahim said on Friday that Malaysian ships were permitted to cross the strait as he thanked Iran’s president, Masoud Pezeshkian.

Only about 150 vessels have made it through since the war began, roughly one normal day’s traffic. Maritime traffic is down by 90 percent through the waterway.

Ngozi Okonjo-Iweala, head of the World Trade Organization, said global trade was experiencing its “worst disruptions in the past 80 years”.

Saturday’s announcement is the fruit of an intense week of Pakistani diplomacy. Army chief Field Marshal Asim Munir spoke to US President Donald Trump on Sunday.

Dar also held calls with his Iranian and Turkish counterparts.

Pakistan shares a 900km (560-mile) border with Iran.

“If the parties desire, Islamabad is always willing to host talks,” Ministry of Foreign Affairs spokesperson Tahir Andrabi told Al Jazeera last week.

Trump, meanwhile, has been making the strait famous in his own way.

Speaking at a Miami investor forum, he referred to it as the “Strait of Trump”, before catching himself. “Excuse me, I’m so sorry. Such a terrible mistake,” he told the crowd.

Iran has demanded formal international recognition of its authority over the strait as a condition for ending the war. Its parliament is drafting legislation to codify toll collection permanently.

Sultan Al Jaber, an Emirati minister, said the chokehold was “economic terrorism,” warning that “every nation pays the ransom at the gas pump, at the grocery store, at the pharmacy”.

Trump said that Washington has eased strikes on Iranian power plants for five days, a window that closes on Saturday. Israel has said its own strikes will continue regardless.