Iran-Oman deal to fully open Strait of Hormuz? ‘It represents a new model’ — What the framework proposes
Iran-Oman deal on Strait of Hormuz: The two countries are finalizing a deal to ease disruption in the strait. Tehran says both sides have agreed on corridor coordinates, with a joint statement expected soon.
The Iran-Oman deal aims to fully open the Strait of Hormuz, marking a new model for maritime traffic. The framework proposes a central route for all shipping, with ships initially entering through Iran and leaving through Oman, before transitioning to a joint management system. The agreement is in the final stages of drafting, with a joint statement expected if obstacles are overcome.
The Strait of Hormuz is vital for global shipping and energy supplies, with Iran accounting for one-fifth of traded oil and natural gas. The deal is expected to last 60 days, but Iranian officials suggest it could last two to four months. Iran has insisted on lifting US naval blockades and sanctions before resuming free navigation.
The deal represents a significant shift from the past sixty years, with a substantial portion of the shipping route passing through Iran's territorial waters.
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