Iran and Oman have reached an understanding on the geographic coordinates for a shipping route through the Strait of Hormuz. Iran's foreign ministry spokesperson Esmail Baghaei stated that a joint announcement is being finalized, though he noted that such an agreement alone would not guarantee security in the strategic waterway. Implementation of the deal now depends on the reactions of third parties.
U.S. President Donald Trump has claimed that negotiations are moving along very nicely, suggesting a deal to reopen the waterway could be announced as soon as Wednesday or Thursday. Trump indicated the agreement could also address Iran's nuclear program. However, Tehran has denied that the U.S. is involved in the negotiations, maintaining that discussions are exclusively with Oman.
The proposed arrangement involves reopening the waterway via shared routes and service fees. Local media reports indicate Iran seeks to bar ships linked to the U.S., Israel, and other hostile countries, while requiring compensation from them before allowing passage. The Trump administration has rejected Iranian control over the strait and the imposition of shipping tolls.
These developments come as Iran maintains de facto control of the strategic waterway, with a blockade that has disrupted global shipping and fueled energy market volatility. Brent crude has held near 80 dollars as attacks on shipping continue. Diplomatic breakthroughs are hoped for to ease pressure on the global economy and potentially pave the way for broader peace talks between Tehran and Washington.