Iran and Oman are advancing talks on a framework to govern the Strait of Hormuz, a critical chokepoint for global oil and LNG shipments, but a final agreement has yet to be finalized, a high-ranking Iranian source told Reuters on Wednesday.
The discussions center on the division of the strait’s waters and revenue-sharing between the two countries, with negotiators reaching preliminary accords on each nation’s share. Iran’s Revolutionary Guard has claimed an agreement was reached, but the Iranian source clarified that details are still under negotiation. Hossein Mohebbi, a spokesperson for the Islamic Revolutionary Guard Corps, stated that Iran and Oman have been in talks for about a month and have achieved "acceptable results" for both parties.
The negotiations come as the U.S. pressures Oman to avoid cooperation with Iran. On August 17, U.S. President Donald Trump warned Oman via Fox News, stating, "If Oman gets in the way, we're going to bomb them." The U.S. has also been accused by Iran of obstructing the talks, delaying progress toward reopening the strait.
Oman’s Foreign Minister, Badr Albusaidi, expressed optimism after Tuesday’s talks, saying the two sides are close to announcing a temporary corridor to the Strait of Hormuz and practical measures to restore safe navigation. However, Iran has tied the strait’s reopening to several conditions, including the lifting of U.S. sanctions, the end of the blockade on Iranian ports, and financial compensation.
Before the February war disrupted shipping, roughly one-fifth of global oil and LNG shipments passed through the Strait of Hormuz. The strait’s closure would have severe implications for energy markets, underscoring the stakes of the ongoing negotiations.
