Iran, Oman agree on framework of Hormuz Strait deal

Iran and Oman reached a framework agreement in principle on new shipping routes and traffic management through the strategic Strait of Hormuz on Friday.

While the proposal moves toward partially reopening the vital energy waterway, a final announcement awaits higher approvals, and full normalization faces hurdles regarding US conditions and security guarantees.

However, vessels and military assets tied to the US, Israel, or other designated hostile entities are reportedly barred from transit under the draft framework. Discussions also involve transit tolls, maritime service costs, and demining responsibilities claimed by Iran.