Good afternoon. This is the Final NOTUS newsletter for April 16, 2026. You can get it in your inbox every day by signing up here — it’s free!
THE LATEST
The Strait of Hormuz is open to commercial ships, but the U.S. blockade on Iranian-linked ships “WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE,” Donald Trump announced on Truth Social this morning. The two countries are removing sea mines, he wrote in another post.
- The price of oil dropped significantly after the news was announced — though still about 25% more per barrel compared to pre-conflict — but it’s not clear how much oil will actually get through the strait. Iranian authorities said vessels must go through a “coordinated route,” and the mines the country has laid still pose a threat.
- The two-week ceasefire is set to expire on Tuesday. Trump has said there will be a deal “soon,” but has also indicated that the ceasefire could be extended.
The nations are negotiating Iran’s stockpile of enriched uranium, among other items, Axios reports. In exchange, the U.S. would release $20 billion in frozen Iranian funds, the report said. Trump has said negotiators would meet again this weekend for another round of talks, likely on Sunday.