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    Home»Market News»Iran says deal with Oman on Strait of Hormuz is ‘in final stages’
    Market News

    Iran says deal with Oman on Strait of Hormuz is ‘in final stages’

    kumbhorgBy kumbhorgAugust 6, 2026No Comments3 Mins Read
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    Iran says deal with Oman on Strait of Hormuz is ‘in final stages’
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    Iran says it has reached an agreement with Oman on a route for shipping through the Strait of Hormuz.

    Foreign ministry spokesman Esmaeil Baqaei did not give any further details on the agreement, which he said was “in the final stages”.

    Baqaei warned, however, that a deal with Oman would not guarantee safe navigation through the strait, arguing security remained impacted by the US blockade of Iran’s ports. The US and Oman have not commented on the proposal.

    Since the US and Israel attacked Iran in February, Tehran has largely blocked the Strait of Hormuz through which about a fifth of the world’s oil and liquefied natural gas usually passes. Since then, global oil prices have fluctuated wildly.

    On Tuesday, US President Donald Trump warned that Iran would be “hit very hard” if the strait did not open “very soon”.

    His comments came after senior US officials said talks had progressed to allow shipments to potentially resume later this week, though Iran has maintained that it is not negotiating with the US and has no plans to do so.

    Reopening the strait has been a key point in discussions between the two countries and mediators.

    In his statement, the Iranian foreign ministry spokesman said the “geographical coordinates of the route” had been agreed with Oman.

    “The factors making the Strait of Hormuz insecure still exist on the part of the United States, particularly the naval blockade and other aggressive and threatening actions against Iran and its interests,” he said, according to Iran’s official Irna news agency.

    Iran’s Deputy Foreign Minister Kazem Gharibabadi later told Irna the new route would be temporary and could stay open from two to four months. He did not give further details.

    Since the beginning of the war, traffic through the strait has dwindled. Iran has said all passage needs to be cleared beforehand – and it has attacked vessels which have ignored the order.

    One of the main points of disagreement between Tehran and Washington has been Iran’s threat to impose a fee on vessels wishing to cross the strait.

    Iran is seeking fees of between 5% and 7% of the price of cargoes from ships using the strait, according to a senior Iranian official cited by Reuters. Oman is discussing fees of around 3%, while Washington wants no fees at all.

    The proposed deal would also give Tehran control over ships entering the Gulf through the Strait of Hormuz, Reuters reported.

    The BBC has contacted the White House for comment.

    In June, Iran and the US signed a Memorandum of Understanding (MoU), aiming to stop fighting, reopen the Strait of Hormuz, and reach agreement to end the war within 60 days.

    The deal quickly fell through, as did diplomatic talks, with tit-for-tat attacks resuming just days after the MoU was signed.

    The US has maintained a naval blockade of Iranian ports in the region, while another blockade is in place on Saudi Arabia’s ports in the Red Sea, imposed by Yemen’s Iran-backed Houthis since 20 July.

    The US and Israel launched wide-ranging strikes on Iran on 28 February, with Iran responding by attacking Israel and US-allied states in the Gulf, and effectively closing the Strait of Hormuz.

    Iran’s then Supreme Leader, Ayatollah Ali Khamenei, was killed in that first attack, after which he was succeeded by his son Mojtaba Khamenei.

    deal final Hormuz Iran Oman stages Strait
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