Iran, Oman close to finalizing deal on new Hormuz Strait shipping arrangements

Iran and Oman are in the final stages of drafting an agreement on new commercial shipping arrangements for the Strait of Hormuz.

According to the Iranian Deputy Foreign Minister, the proposed framework looks to replace temporary paths with a regulated single route through Iranian territorial waters for a limited duration. Discussions have also touched on localized regulatory oversight and potential service fees or transit management proposals.