Iran weighs Hormuz pact as Trump signals progress

Iranian lawmakers are reviewing the final language of a proposed maritime pact with Oman regarding the Strait of Hormuz, as US President Donald Trump reports negotiations are progressing towards a deal that could reopen the vital waterway for commercial shipping. Trump mentioned during a press conference that discussions were "moving along," but provided no additional specifics.

Tehran has previously indicated an agreement in principle with Muscat, although legal and operational details still need political approval. Deputy Foreign Minister Kazem Gharibabadi stated earlier that Iran and Oman had agreed on the basic framework for navigating the strait. State media later reported that Iran's parliament is currently examining the final text to ensure it can be implemented.

The urgency of these talks has increased due to ongoing disruptions in the Strait of Hormuz, which has been under conflict between Iran and the United States for several months. The strait, responsible for about a fifth of global oil shipments, has seen attacks, restrictions, and uncertainties for commercial vessels. The United States is expected to announce its response to the agreement once shipping resumes without hindrances, contingent on Iran fulfilling its obligations.

This potential deal aims to balance Iran's security concerns and the US's demand for unrestricted shipping. Prior proposals suggested dividing responsibilities between Iran and Oman, with Tehran rejecting suggestions that didn't adequately address its security issues. The US has also opposed any form of Iranian control or compulsory fees for passage.

The talks come amid continued maritime dangers and heightened shipping costs, with the International Maritime Organization reporting numerous attacks on international vessels in the region since the conflict began in February. Although a successful resolution could ease economic pressures on Gulf oil producers, companies may still seek security assurances before normalizing routes.

US Treasury Secretary Scott Bessent suggested a temporary ceasefire lasting 30 to 60 days could help reopen the strait, but emphasized that the negotiations are not leading to broader normalization of relations between the two nations. Political divisions within Iran also complicate the situation, with hardliners wary of concessions that might diminish Tehran's strategic influence.