US expects Strait of Hormuz deal soon as Iran-Oman talks advance
US official says Iran and Oman are making progress toward reopening the Strait of Hormuz, with Washington prepared to lift its blockade of Iranian ports once commercial shipping resumes unobstructed
A U.S. official reported on Friday that progress is being made in talks between Iran and Oman, potentially leading to the early reopening of the Strait of Hormuz. This could restore oil exports that have been disrupted since the U.S. began its war with Iran five months ago. Washington is confident that an agreement between Iran and Oman, which are located on opposite sides of the strategic waterway, is imminent.
Such a deal is seen as vital for a wider peace agreement. The official stated that the U.S. will lift the blockade of Iranian ports once the deal is announced. The U.S. and Israel launched military operations against Iran on February 28, which led to the current situation. Prior to the war, about one in every five barrels of oil consumed globally passed through the Strait of Hormuz.
Iran has since imposed tolls on oil tankers and attacked vessels that pass without permission, causing energy prices to rise and fuel inflation. The U.S. administration has hinted at a near-term deal, but Iran has denied any ongoing negotiations. It remains uncertain if the latest talks will result in a lasting agreement. Iran's attacks on shipping in the Strait of Hormuz have been joined by assaults from its allies in Yemen, who target vessels in another crucial oil chokepoint between the Red Sea and the Gulf of Aden.
Saudi Arabia, Turkey, and Pakistan recently signed a defense pact to bolster collective deterrence amid concerns over the escalating regional conflict. The agreement, aimed at protecting each other, was signed in Mecca by the three U.S. allies, all majority-Sunni Muslim nations. Turkey emphasized that the pact is purely defensive and not directed against any specific country.
This development comes amidst heightened tensions with Iran. The U.S. is also attempting to broker an end to fighting between Israel and Hezbollah, an Iranian-backed group in southern Lebanon. Lebanon has agreed on a list of countries that could send troops to verify Hezbollah's disarmament under a U.S.-brokered agreement, with the U.S. selecting from this list.
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