Iran says deal with Oman on Strait of Hormuz is in final stages
Iran says it has reached an agreement with Oman on a route for shipping through the Strait of Hormuz. Foreign ministry spokesman Esmaeil Baqaei did not give any further details on the agreement, which he said was “in the final stages”. Baqaei warned, however, that a deal with Oman would not guarantee safe navigation through ...
Iran has reportedly reached a tentative agreement with Oman on a shipping route through the Strait of Hormuz, according to the country's Foreign Ministry spokesman Esmaeil Baqaei. The spokesman did not provide further details on the deal, which he described as being "in the final stages." However, Baqaei cautioned that the agreement would not ensure safe passage through the strait, pointing out that the US blockade of Iran's ports and other hostile actions remain significant obstacles.
Oman has not commented on the proposed deal, nor has the US. Since February, the US and Israel have launched strikes against Iran, leading to a blockade of Iran's ports and a subsequent closure of the Strait of Hormuz. The strait, which typically facilitates about one-fifth of the world's oil and liquefied natural gas (LNG) trade, has been mostly blocked since the US and Israel attacked Iran.
US President Donald Trump warned Iran would face severe repercussions if the strait did not reopen soon, following reports that US officials had agreed to allow shipments to resume later in the week.
The proposed route, with its geographical coordinates, has reportedly been agreed upon with Oman, according to the Iranian foreign ministry. However, the spokesman emphasized that the US blockade and other aggressive actions would continue to pose risks to maritime security. Iran's Deputy Foreign Minister Kazem Gharibabadi suggested that the temporary route might remain open for two to four months.
The conflict has caused significant fluctuations in oil prices, with Brent crude dropping by 0.3% to $79.24 in early Asian trading. Iran has insisted on clearing ships before allowing passage through the strait, and has attacked vessels that disregarded this order. The main points of contention between Iran and the US revolve around Iran's demand for fees ranging between 5% and 7% on shipped cargoes, compared to Oman's proposed fee of around 3% and the US's insistence on no fees at all. The deal would also grant Iran control over ships entering the Gulf through the Strait of Hormuz.
The BBC has reached out to the White House for comment on the proposed deal.
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