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Thu, 06 Aug 2026

Thu, 06 Aug 2026 Iran says deal with Oman on Strait of Hormuz is in final stages

Neither the US or Oman have commented on the proposed agreement on the vital waterway.
Iran and Oman have reached an agreement on a route for shipping through the Strait of Hormuz, which has been blocked by Iran since the US and Israel attacked it in February. The Iranian Foreign Ministry spokesman said that the "geographical coordinates" of the route had been agreed upon with Oman, but did not provide further details. He warned that security in the region remains a concern due to the US blockade of Iran's ports. The proposed deal would allow ships to temporarily pass through the strait for 2-4 months, during which time Iran would impose fees on vessels wishing to cross. The fee imposed by Iran is estimated to be between 5-7% of the price of cargoes, while Oman has discussed imposing a fee of around 3%. The US and Israel have not commented on the proposal, but President Donald Trump warned that Iran would face consequences if the strait did not open "very soon". Oil prices edged lower on Thursday, with global benchmark Brent crude down by 0.3% in morning Asian trade. Iran's Deputy Foreign Minister Kazem Gharibabadi said that communication with Supreme Leader Ayatollah Mojtaba Khamenei is "difficult at the moment" and that his presence is a "great source of strength" for the country, but he has been out of public sight since being wounded in the US strike.