US sees progress in Iran-Oman talks to reopen Strait of Hormuz

The United States anticipates Iran and Oman will soon sign an agreement to reopen the Strait of Hormuz, potentially restoring access to a critical oil shipping route that has been disrupted by a five-month conflict between Washington and Tehran. According to a US official, who spoke anonymously, negotiations between Iran and Oman have shown progress and Washington is expecting an agreement to be reached soon.

To signal approval, the US would lift sanctions on Iranian ports once an agreement confirming unrestricted commercial navigation through the strait is announced. The US official emphasized that actions by the United States would remain contingent upon Iran's adherence to its commitments. Such an agreement could also bolster prospects for a wider diplomatic resolution.

Prior to the war's commencement on February 28, approximately one in five barrels of the global oil supply traveled through the Strait of Hormuz. Iran has since imposed tolls on oil tankers and attacked vessels without permission, causing global energy prices to rise and contributing to inflationary pressures. The US has reportedly signaled in recent weeks that an agreement to reopen the strait is close, although Iran has denied ongoing negotiations.

The Strait of Hormuz, a crucial energy chokepoint linking the Persian Gulf, the Gulf of Oman, and the Arabian Sea, is currently experiencing shipping disruptions. These have been compounded by attacks by Iran's ally, Yemen's Houthi movement, against vessels passing through the Red Sea and the Gulf of Aden. Saudi Arabia, Pakistan, and Turkey have signed a mutual defense pact in Makkah to bolster collective deterrent against aggression, although Turkey stressed the pact's defensive nature.

The agreement comes amid heightened tensions with Iran, a predominantly Shi'ite nation. Meanwhile, the US is mediating an end to fighting between Israel and Iran-backed Hezbollah in southern Lebanon. Lebanese officials stated that Lebanon and Israel have agreed on a shortlist of countries to deploy troops to verify the dismantling of Hezbollah's weapons under a US-backed agreement.