Iraq has welcomed the planned reopening of the Strait of Hormuz under a deal announced by the United States and Iran to end the Middle East war, according to AFP.

The country’s foreign ministry expressed its “satisfaction with the announcement on the imminent reopening of the Strait of Hormuz to normal navigation, given its crucial importance in ensuring the flow of oil and gas to global markets”.

Iraq relies on the vital waterway to export most of its crude oil, which accounts for nearly 90 per cent of its revenues.