Iran, Oman seek temporary Hormuz shipping corridor as US pressure mounts

The United States has put forth an offer to terminate its "Operation Economic Outcast," cancel all sanctions against Iran, and lift the naval blockade in order to secure the reopening of the Strait of Hormuz and an end to attacks by regional proxies, according to a senior source reported by Al Arabiya. This proposal was presented by Pakistan's army chief, Field Marshal Asim Munir, during a recent visit to Tehran, where he met with Mohsen Rezaei, secretary of Iran's Supreme National Security Council.

The offer is considered a distinct proposal in efforts to revive elements of a June 2026 memorandum of understanding between Washington and Tehran, which aimed to cease hostilities and resume shipping through the vital waterway.

U.S. terms center on Iran ensuring unimpeded passage through the Strait of Hormuz, a crucial conduit for approximately 20 percent of global oil, and ceasing proxy attacks. In return, the U.S. would suspend or cancel the economic isolation campaign announced by Treasury Secretary Scott Bessent, remove sanctions, and end the naval blockade of Iranian ports.

Iran, however, maintains its core demands, including $300 billion in U.S. compensation, the complete removal of all American sanctions, release of frozen Iranian assets, an end to the naval blockade, withdrawal of U.S. troops from the region, and a comprehensive regional ceasefire that includes Lebanon and Gaza.

Operation Economic Outcast was announced on August 24 by Bessent as a secondary sanctions campaign targeting Iran's remaining economic avenues in areas such as digital assets, technology, gold, aviation, and shipping. This initiative aims to isolate the Iranian regime financially following months of conflict involving a U.S. naval blockade and disruptions in the Strait of Hormuz.

The diplomatic channel through Pakistan signifies a shift from containment to forcing Tehran to decide between global isolation and a return to economic normalcy. However, Iran's demands remain unchanged, and Iranian officials have not publicly commented on the latest offer. Rezaei indicated that Tehran would continue internal consultations.

Meanwhile, Chinese officials have rejected any expectation of altering economic ties with Iran to comply with the new U.S. sanctions, emphasizing opposition to unilateral measures. The Strait of Hormuz remains a critical chokepoint for global energy supplies, and any agreement on free navigation could alleviate pressure on oil markets, while further deadlock risks escalating economic and security tensions in the region.

Despite both sides expressing willingness to engage through intermediaries, the disparity between the U.S. proposal and Iran's stringent conditions highlights the challenges in achieving a lasting resolution.