- The US is close to finalising an interim agreement with Iran and Oman to reopen the Strait of Hormuz, with a Wednesday announcement expected after the collapse of the 14-point Memorandum of Understanding (MoU).
- Axios reports parties are seeking a 60-day agreement in which incoming Gulf traffic uses a northern lane in Iranian waters and outgoing traffic uses a southern lane through Omani waters.
- Iran says talks with Oman alone will not reopen the strait, and a senior Iranian official blamed US interference and Trump’s threats for delays in reaching a deal with Oman.
- US Secretary of State Marco Rubio said talks focus on the immediate reopening of the Strait of Hormuz and the longer-term complete denuclearisation of Iran, with progress mediated by Oman.
- President Donald Trump said there was an 'all-day negotiation' with Iran and that the Strait will open 'very soon' or Iran will be 'hit very hard'.
- US Central Command (CENTCOM) said US forces have assisted more than 1,000 vessels transiting the strait despite 'unwarranted Iranian aggression'.
- Iran may allow European nations to clear mines in the Strait of Hormuz, and Tehran and Muscat are seeking a 'middle corridor' for safe navigation.
- The prospect of a deal to normalise shipping pushed Brent crude below $80 for the first time in more than three weeks.
The United States is on the verge of finalizing an interim agreement with Iran and Oman to reopen the strategically vital Strait of Hormuz. This follows heightened tensions after the collapse of a previous 14-point Memorandum of Understanding (MoU) between Washington and Tehran last month.
The proposed agreement aims for a 60-day plan where incoming maritime traffic would navigate through a northern lane in Iranian waters, while outgoing vessels would use a southern lane through Omani waters, coordinated with Iran.
However, Iran has expressed that discussions with Oman alone are insufficient, emphasizing that broader conditions must be met for normal shipping operations to resume. A senior Iranian official attributed delays in negotiations to U.S. interference and military threats.
U.S. Secretary of State Marco Rubio highlighted that negotiations focus on two main objectives: the immediate reopening of the Strait for safe navigation and the long-term goal of Iran's complete denuclearization. Rubio noted that progress has been made in discussions mediated by Oman, although no final agreement has been reached.
In a related statement, U.S. President Donald Trump warned that the Strait would open 'very soon' or Iran would face severe consequences. Meanwhile, U.S. forces have reportedly assisted over 1,000 vessels in transiting the strait amid ongoing Iranian aggression.
The potential deal has already impacted oil prices, with Brent crude falling below $80 for the first time in over three weeks, reflecting market optimism about restored shipping through the key waterway.
“Trump said there was an 'all-day negotiation' with Iran, warning the Strait will open 'very soon' or Iran will be 'hit very hard.' CENTCOM said US forces have assisted more than 1,000 vessels transiting the strait over the past three months despite 'unwarranted Iranian aggression.'”
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