Iran-Oman near Hormuz shipping deal but reopening tied to US concessions

Iran and Oman are on the verge of finalising a new shipping arrangement for the Strait of Hormuz, though Iran has conditioned the waterway’s full reopening on the United States meeting demands such as lifting sanctions and ending threats. The Strait, which carried about a fifth of global oil and gas shipments before disruptions, remains a critical chokepoint in the ongoing US-Iran conflict.

Iranian Foreign Minister Abbas Araqchi stated that discussions with Oman on a new shipping route through the Strait of Hormuz are "very close" to an agreement. However, Araqchi emphasised that the previous traffic separation arrangement is no longer acceptable to Tehran. Iranian Guards spokesperson Hossein Mohebbi reinforced this position, declaring that the Strait will only reopen "whenever the United States accepts Iran's conditions." These conditions include ending US threats, sanctions, and the blockade.

Oman has described the negotiations as "positive and constructive" and called for restraint to avoid disrupting the talks. Neither Oman nor the US has publicly commented on the specifics of the proposed agreement. Meanwhile, an anonymous US official told Reuters that Washington expects an agreement between Iran and Oman soon, which could allow normal oil traffic to resume.

During the conflict, Iran has restricted shipping through the Strait and imposed tolls on some oil tankers. The disruptions have significantly impacted global energy markets, given the Strait’s role as a vital transit route for oil and gas shipments.