Iran and Oman agree revenue deal on Strait of Hormuz— Bloomberg
The Islamic Revolutionary Guard Corps (IRGC) stated that it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as Tehran and Washington’s standoff over control of the crucial waterway continues, Bloomberg reported on Wednesday.
Iran and Oman have reached a revenue-sharing agreement regarding the Strait of Hormuz, according to the Islamic Revolutionary Guard Corps (IRGC). The agreement details each country's share of the waterway's usage and revenue, according to Hossein Mohebbi, IRGC's spokesman. This development surpasses a joint statement made by the foreign ministries of Iran and Oman on Tuesday, which had only outlined an "interim framework" for resuming ship transits.
Iran has emphasized that the reopening of the crucial waterway requires more than just a deal with Oman. Currently, the WTI is trading at $81.32, marking a 0.72% increase for the day.
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