Iran and Oman prepare Hormuz deal as U.S. holds back on secondary sanctions - CNBC
The Iranian Revolutionary Guard claims the U.S. is obstructing a navigational deal between Iran and Oman regarding the Strait of Hormuz. Meanwhile, President Trump maintains that the strait remains functional and open despite ongoing tensions.
Why it matters
The Strait of Hormuz is a critical global oil transit chokepoint, and any disruption could significantly impact global energy prices and regional security.
The U.S. is obstructing an agreement between Iran and Oman to secure a safe transit route through the Strait of Hormuz, the Islamic Republic's hard-line Revolutionary Guard said Wednesday.
Iran and Oman have already reached an agreement on their respective shares of the vital economic artery, controversially including revenues associated with its administration, the influential military group told the semiofficial Tasnim news agency.
The Revolutionary Guard said the strait would remain closed if the U.S. does not accept Iran's conditions.
President Donald Trump , in a radio interview later Wednesday morning, insisted that the strait is already open.
"We take a lot of ships through the strait now. We're taking them in," Trump told conservative radio host Glenn Beck.
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