Iran says it has agreed Strait of Hormuz shipping route with Oman

The Islamic Republic of Iran has reportedly reached a deal with Oman concerning the use of the Strait of Hormuz for shipping. Foreign Ministry spokesman Esmaeil Baqaei disclosed that the agreement is currently in the final stages. However, he cautioned that the presence of US naval blockades and aggressive actions against Iran would continue to pose security risks.

He emphasized the US blockade's impact on Iran's ability to navigate the strait, which is a critical route for global oil and liquefied natural gas trade. The US and Oman have yet to comment on the proposed deal. Following the US and Israeli attacks on Iran in late February, Iran has largely restricted the Strait of Hormuz, a passage used by approximately one-fifth of the world's oil and liquefied natural gas.

This move has led to volatility in global oil prices. US President Donald Trump has threatened Iran with severe consequences if the strait remains closed. He made this statement after learning of progress in talks that might resume shipments later this week. However, Iran has steadfastly maintained that it is not engaging in negotiations and lacks intentions to do so.

The specifics of the agreed-upon route and its duration were not disclosed by the Iranian Foreign Ministry. The Deputy Foreign Minister, Kazem Gharibabadi, stated that the new route would be temporary, potentially lasting between two to four months. The exact nature of the talks with Oman, including whether the issue of Iran's proposed fee on vessels transiting the strait, was addressed, remains unclear.

In June, Iran and the US signed a Memorandum of Understanding (MoU) to halt hostilities, reopen the strait, and achieve a comprehensive peace agreement within 60 days. However, the agreement did not last, and diplomatic talks resumed only days after the MoU was signed. The US continues to enforce a naval blockade of Iranian ports in the region, while another blockade is in place on Saudi Arabia's Red Sea ports, imposed by Yemen's Iran-backed Houthi rebels since July 20.