The United States and Iran have agreed to halt their recent military exchanges around the Strait of Hormuz and continue negotiations aimed at preserving a fragile ceasefire even as both sides remain divided over control of one of the worlds most important maritime trade routes

Officials from both countries signalled that technical talks would continue despite several days of retaliatory strikes that had raised fears of a wider regional conflict Both sides agreed to stop attacks in the Strait allowing commercial shipping to resume while discussions continue on implementing the memorandum of understanding that led to the ceasefire

The renewed diplomatic effort follows four days of military exchanges that began after attacks on commercial vessels in the Strait of Hormuz The United States blamed Iran for the attacks and responded with strikes on Iranian military infrastructure Iran retaliated with missile and drone attacks targeting US military facilities in Bahrain and Kuwait although US officials said the attacks were intercepted or failed to reach their targets

Despite the ceasefire both countries remain divided over the future administration of the Strait Iranian Foreign Minister Abbas Araghchi said Iran alone has responsibility for managing maritime traffic through the waterway under the memorandum of understanding He warned that any attempt to create alternative arrangements would complicate the situation delay the return of normal conditions and postpone the full reopening of the Strait

The United States continues to insist that freedom of navigation must be protected US Ambassador to the United Nations Mike Waltz warned that Iran would face further consequences if attacks on commercial shipping continued President Donald Trump also warned that the United States would take stronger military action if necessary

The recent conflict briefly disrupted commercial traffic through the Strait of Hormuz a strategic route that carries about one fifth of the worlds seaborne oil trade Oil prices increased as markets monitored the security situation while commercial shipping resumed cautiously following the reported agreement

Both countries now plan to continue broader negotiations aimed at reducing tensions ending hostilities restoring normal shipping through the Strait of Hormuz and addressing Irans nuclear programme