ERBIL, Kurdistan Region of Iraq – Iraq’s Foreign Minister Fuad Hussein on Sunday expressed gratitude to Iran for allowing Iraqi oil tankers to pass through the Strait of Hormuz, as maritime traffic in the waterway remains highly restricted.

Hussein “expressed his gratitude for allowing Iraqi oil tankers to pass through the Strait of Hormuz,” in a meeting with the Iranian Ambassador to Iraq Mohammad Kazem Al-Sadegh, the foreign ministry said in a statement.

The minister stressed “the importance of continuing this cooperation in the near future.”

The Iranian military on Saturday said Iraq is exempt from the restrictions imposed on the strait, adding that recent developments represent a “historic opportunity” to end the “forced” American military presence in Iraq.

Iraq has been largely unable to export its oil since the onset of the US-Israeli war on Iran, amid the effective closure of the vital Strait of Hormuz by Iran, through which Iraq exports the majority of its oil, despite the two countries sharing strong ties.

In light of the strait’s closure, Baghdad has opted to sell its oil through Turkey’s Ceyhan pipeline, following an agreement with the Kurdistan Region in March, aiming to alleviate the disruptions to its oil exports.

Iranian foreign ministry has consistently asserted that the waterway is not closed for entities who are not involved in the conflict on the side of the US, saying tankers from non-involved parties can pass through in coordination with the relevant Iranian authorities.

The restriction of traffic at the chokepoint, has led to soaring oil prices, with an estimated cost of 11 million barrels of oil per day denied passage, surpassing the combined impact of the 1970s oil shocks, according to the International Energy Agency (IEA).

The US and its allies have intensified calls on Tehran to open the waterway, with the US President Donald Trump warning to target power plants and bridges if traffic remains restricted.

“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the [F******] Strait, you crazy bastards, or you'll be living in Hell - JUST WATCH! Praise be to Allah,” the US president wrote on his Truth Social account.

On Saturday, Trump issued a 48-hour ultimatim for Iran to open the vital chokepoint, warning that “all Hell will reign [sic] down on them” if Tehran does not comply.