The latest
Iran said it had reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, potentially enabling more energy cargoes to use the critical waterway. Foreign Ministry spokesman Esmail Baghaei said a joint statement was being reviewed and finalized, according to a Telegram post on Wednesday. He described negotiations as advancing but said a deal depended on unspecified third parties not obstructing the process. Oman had not independently confirmed the agreement in the supplied reporting.
Details
- Temporary corridor: Deputy Foreign Minister Kazem Gharibabadi told state-run IRNA that talks concern a route operating for two to four months, with a significant share of traffic passing through Iranian territorial waters. He said the understanding would not constitute a full reopening of Hormuz.
- Tehran’s conditions: Iran has demanded that vessels obtain permission and pay transit fees, and has attacked ships it considers in violation. The United States has blockaded Iranian ports. The shipping dispute contributed to the collapse of a ceasefire and interim peace agreement last month.
- Washington’s position: The White House did not respond to a request for comment. President Donald Trump said Tuesday that a Hormuz agreement was imminent and that talks with Iran were progressing. He said the outcome would become clear within 48 hours while again threatening consequences without a deal.
- Market reaction: Brent crude traded near $79 a barrel on Wednesday as signs of possible reopening increased. Shipping restrictions during the five-month conflict disrupted production of millions of barrels a day and lifted global energy prices, making access through Hormuz economically and politically significant.
- Continuing shipments: Visible traffic through the strait has remained limited, although millions of barrels a day continued crossing during recent periods of heightened hostility. Regional countries established a shuttle system to move cargoes from the Gulf, and some operations may continue while shipowners assess security risks.
- Wider deadlock: Fighting between the United States and Iran is paused, but the sides have not agreed to begin formal negotiations. Iran’s nuclear program and shipping controls remain unresolved as the war enters its sixth month. Baghaei blamed the strait’s closure on US and Israeli attacks.
Between the lines
Iranian state television cited an unidentified person familiar with the discussions as saying an Iran-Oman agreement would not guarantee immediate reopening. The report said implementation remained contingent on a change in US behavior, underscoring the arrangement’s limited and conditional nature.
What’s next
The next concrete step is publication of the final Iran-Oman statement, including any start date and operating rules for the temporary corridor. Trump’s stated 48-hour timeframe will also test whether Washington accepts or challenges the proposed arrangement.
