Iran's military has announced that Iraq, a significant oil producer, will be exempt from shipping restrictions in the Strait of Hormuz, a key maritime route for global oil supplies. The exemption could allow for the release of up to 3 million barrels of Iraqi oil per day into the market. However, the actual impact remains uncertain as Iraqi officials caution that shipping companies may hesitate to enter the strait due to safety concerns. Iraqi oil exports had previously plummeted by 97% in March, averaging only 99,000 barrels daily, as conflict disrupted normal operations. Despite the ongoing war, ship traffic through the strait has increased, with nations such as India, China, and Russia successfully crossing. Iran has maintained strict control over the strait since the US and Israel's attacks on February 28, allowing only vessels from friendly nations to transit while threatening those allied with the US. Diplomatic efforts by European states to resolve the crisis have yet to yield results.