Iran says it has reached an understanding with Oman on a new maritime transit route through the Strait of Hormuz, potentially allowing ships to enter via a route near Iran and exit through one near Oman. Initial transit would reportedly be toll-free.
Key points:
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- Iran and Oman have been negotiating the new route and arrangements for managing Hormuz for about three months.
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- Iran says the bilateral arrangement is separate from negotiations with the United States over reopening the strait.
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- Tehran says US talks remain conditional on the removal of Washington’s restrictions, including the naval blockade of Iranian ports and demands for war reparations.
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- Iran and the US have yet to reach a broader agreement on reopening the waterway. Washington is seeking full, toll-free and unrestricted navigation.
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- The development came as the 60-day deadline for a 14-point Iran-US memorandum expired. Tehran called the deadline irrelevant, saying the US had violated the understanding before negotiations could proceed.
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- US President Donald Trump reacted by threatening military action against Oman if it obstructed a potential US-Iran agreement and said informal contacts with the IRGC were taking place.
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- Hormuz traffic remains severely disrupted. Only three vessels crossed the strait on Sunday, according to Kpler.
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- Before the war, roughly one-fifth of global oil and LNG shipments passed through the Strait of Hormuz. Its near-closure since February 28 triggered a major global energy shock, with Brent crude reaching almost $115/bbl in early May, compared with around $70 before the war.
Bottom line: The Iran-Oman route agreement could provide a framework for gradually restoring maritime traffic, but it does not yet amount to the full reopening sought by Washington. Its implementation will depend on the final route arrangement, security guarantees and the broader Iran-US dispute.
Source: Al- Monitor