Market sources: 10 India-flagged vessels are awaiting transit through the Strait of Hormuz.

Iranian central bank governor Hemmati told Tasnim the country is not obliged to use unfrozen funds to purchase U.S. agricultural products, responding to President Trump’s assertion that the funds should be spent entirely on U.S. farm exports. Hemmati said the use of the initial $6 billion will follow a 2023 Iran–U.S. memorandum of understanding and cover basic commodities and medicines, and that Iran would not rule out buying U.S. goods if price and quality are preferable.

A-share MLCC-related stocks opened lower; Guoci Materials, Xinwei Communication, Jiemei Technology, Boqian New Materials and Shangluo Electronics each fell more than 3%, with Haozhi Electromechanical also declining.