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Times of India·3 min read·medium

Deal on Hormuz shipping route reached with Oman, says Iran

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Deal on Hormuz shipping route reached with Oman, says Iran
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Iran and Oman are reportedly nearing an agreement regarding shipping routes through the Strait of Hormuz. The deal would potentially grant Iran control over vessel traffic, though details regarding inspection authority remain under negotiation.

Why it matters

The Strait of Hormuz is a critical global energy chokepoint, and any change in control or oversight has major implications for global oil prices and regional security.

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Iran said an agreement with Oman has been reached on a proposed route for shipping through the Strait of Hormuz, a potential step toward a reopening of the critical waterway for energy supplies.A joint statement from Tehran and Muscat is under review and in the final drafting stage, Iranian foreign ministry spokesman Esmail Baghaei said Wednesday. Negotiations between the two countries are “professional” and “forward-moving” and a deal would be struck “if certain third parties do not obstruct this process,” he said.The proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials said Wednesday, in one of the biggest concessions yet to Iran.Despite the apparent step towards yielding to Iranian demands, the sources pushed back against assertions by Trump that a deal reopening the strait was imminent.

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