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The Strait of Hormuz, one of the world's most critical shipping lanes, has begun to see limited movement again after Iran agreed to reopen it under a temporary ceasefire with the United States.
The US and Iran announced a two-week ceasefire - with 90 minutes on Donald Trump's "a whole civilisation will die tonight" clock - early Wednesday, as part of which Iran agreed to re-open the Strait of Hormuz, potentially restoring global energy supplies.
The Middle East war has caused a significant increase in oil prices. Brent prices rose 30 per cent since the war began and pulled the coal futures up by 18 per cent too.
Randhir Jaiswal also urged Indian nationals in Iran -- where an estimated 7,500 Indians remain -- to exit the country quickly in coordination with the Embassy and follow advised transit routes.
A defiant Iran and the most powerful nation in the world, the US, fighting for over a month, agreed to a ceasefire 90 minutes before Trump's "wiping out a whole civilization" threat was to end.
The message comes after US President Donald Trump said that he has agreed to suspend attacks on the Islamic Republic for two weeks only if the strait is opened in a "complete, immediate, and safe" manner.