The Red Sea along the coast of Yemen through the Bab al-Mandab Strait into the Gulf of Aden remains a high-risk area because of Houthi rebels attacking commercial vessels in solidarity with Hamas and the war Israel is waging on the militia movement in Gaza.
But the election of Masoud Pezeshkian as Iran's new president has raised hopes of a potential shift in the country's regional policies, particularly regarding its military and financial support for Hamas and the Houthis.
As a reformist leader, Pezeshkian has emphasised the importance of de-escalating tensions with Western nations and revisiting the 2015 nuclear agreement, the Joint Comprehensive Plan of Action (JCPOA), a landmark deal reached between Iran and a group of world powers – the United States, the United Kingdom, France, Germany, Russia, and China.
The JCPOA paved the way for a substantial de-escalation in diplomatic friction related to nuclear armament.
During his campaign against Saeed Jalili, a hardliner harkening to similar strong-man politics as former president Ebrahim Raisi, who died in a helicopter crash in May, Pezeshkian stressed the need for negotiations to alleviate sanctions and liberate Iran from perceived constraints.
This stance contrasts sharply with that of Raisi who promoted a confrontational approach towards Western adversaries and the preservation of Iran's conservative ideologies.
Pezeshkian's election victory has fuelled discussions about the future direction of Iran's foreign policy.
Analysts suggest that the new president's moderate stance could lead to a decrease in Iran's military support for Hamas and the Houthi rebels, potentially changing the dynamics in Gaza and the impact that the Red Sea situation has had on maritime traffic through the Suez Canal.
However, it is important to note that Iran’s Supreme Leader, Ayatollah Ali Khamenei, wields the ultimate authority in Iran.
While the president holds the ability to shape policies by leveraging popular backing and political connections, the extent to which Pezeshkian can influence Iran's regional involvement remains to be seen.
As Pezeshkian prepares to be sworn in before parliament in early August, the international community will closely monitor his actions and policies.
The success of his reformist agenda will depend on his ability to navigate the complex political landscape and balance the interests of various factions within the Iranian government.
