Australian Prime Minister Anthony Albanese welcomes Iran’s agreement to stop blocking the Strait of Hormuz but says the situation remains “fragile”, according to AFP.

“This was positive news that we received last night,” Albanese told journalists in Sydney after participating in a multinational summit on the issue.

“We hope that it holds, but what we know is that the impact will be long lasting,” he added.

Separately, he said in a post on X, “Australia stands ready to support efforts to restore stability and security in the Strait of Hormuz.”