Tehran: Iran announced it is in the final stages of finalizing an agreement with Oman concerning the Strait of Hormuz, a critical maritime passage. Meanwhile, US President Donald Trump indicated that a deal could be imminent, which may lead to reopening the vital waterway and potentially easing global economic pressures.
According to France24.com, the agreement hinges on the condition that the US lifts its blockade on Iranian ports, a challenging proposition given the Trump administration's reluctance to allow Iran any control over the strategic strait. Iran has maintained its stance on exerting some control over the strait, resisting a return to its status as an open international waterway.
The conflict over the Strait of Hormuz began after the US and Israel launched military actions against Iran on February 28, with objectives that included ousting Tehran's government and dismantling its nuclear program. These goals remain unfulfilled, and the focus has shifted to control over the strait, leading to disruptions in maritime traffic.
The closure of the Strait of Hormuz, through which a significant portion of global oil and natural gas trade flowed, has resulted in increased fuel and goods prices, impacting the world economy. Trump faces growing pressure to resolve the conflict as US congressional elections approach.
Iran's Foreign Ministry spokesperson, Esmail Baghaei, stated that the draft agreement with Oman is nearing completion and a joint statement will be issued if no further obstacles arise, implicitly referring to the US.
Regional officials reported that Iranian and Omani negotiators have finalized the draft agreement to reopen the strait, pending final approval from Iran's Supreme Leader Ayatollah Mojtaba Khamenei. The deal is considered a temporary resolution to the ongoing dispute, linked to a previous US-Iran agreement from June that sought to end hostilities but ultimately failed.
The draft agreement proposes that ships enter the Persian Gulf via an Iranian-controlled route and exit through an Omani-controlled route, with service fees imposed for ensuring security and environmental preservation. The US opposes any arrangement that allows Iran to levy fees.
President Trump, when questioned about a potential announcement regarding the strait, suggested progress had been made and an announcement could follow soon. Vice President JD Vance acknowledged the complexity of the situation with Iran, emphasizing the challenges and iterative nature of negotiation efforts.
Amid these developments, oil prices fluctuated, with Brent crude trading around $80 per barrel, a decrease from previous peaks during the conflict. Trump has expressed both aggressive and diplomatic stances in recent days.
Meanwhile, Iranian-backed Houthi rebels in Yemen claimed missile attacks on Saudi oil tankers, escalating tensions and risking a resurgence of Yemen's civil war. The closure of the Bab el-Mandeb Strait by the Houthis further complicates international shipping routes.
In a parallel development, the ceasefire between Israel and Hezbollah remains fragile. Israel issued evacuation warnings in southern Lebanon and conducted strikes in response to alleged ceasefire violations. Diplomatic talks in Rome between Lebanese and Israeli negotiators were cut short but may resume.
