Iran says will discuss Strait of Hormuz with Gulf states on Monday

Iran’s foreign ministry announced on Friday that the country will meet with Gulf states in Oman on Monday to discuss the strategic Strait of Hormuz, which has been blockaded by Iran since the Middle East war began on February 28. This meeting aims to improve regional understanding and enhance shared security, according to the ministry. The meeting will involve Iraq and other littoral Persian Gulf states, Iran stated.

Since the war commenced, the Strait of Hormuz, through which one-fifth of global oil supplies previously flowed, has been under blockade. This blockade has contributed to soaring oil prices, exceeding $100 per barrel this week. Oman and Iran, both bordering the strait, have been in talks for several weeks to determine the future management of this crucial waterway. Iran requires vessels to obtain permission to pass and is contemplating a mechanism to impose service fees.

Currently, the strait is open to transit; however, Iran demands vessels receive authorization before entering and is contemplating a system to impose service fees. Non-compliant ships are frequently targeted by Iranian strikes, while the United States periodically attacks the Iranian coastline to challenge the Islamic republic's control of the strait.