
Iran and Oman reach agreement on Strait of Hormuz shipping route
Iran has announced an agreement with Oman regarding a shipping route through the Strait of Hormuz, with Iranian foreign ministry spokesman Esmaeil Baqaei stating the deal is in its final stages. However, Baqaei cautioned that this agreement does not guarantee safe navigation, citing the ongoing US blockade of Iran's ports as a continuing security concern. The US and Oman have not yet commented on the proposal. Since February, Iran has largely blocked the Strait of Hormuz, a critical waterway for approximately 20% of the world's oil and liquefied natural gas. US President Donald Trump recently warned Iran of severe repercussions if the strait remained closed. Despite reports of progress in talks to resume shipments, Iran maintains it is not negotiating with the US. Iranian Deputy Foreign Minister Kazem Gharibabadi indicated the new route would be temporary, potentially open for two to four months. Oil prices have been volatile due to disruptions in the strait. A key point of contention between Tehran and Washington is Iran's proposal to charge fees for vessels using the strait, with Iran seeking 5% to 7% of cargo prices, Oman discussing around 3%, and Washington opposing any fees. The proposed deal would also grant Tehran control over ships entering the Gulf via the strait. A previous Memorandum of Understanding between Iran and the US in June, aimed at ending hostilities and reopening the strait, quickly failed. The US maintains a naval blockade of Iranian ports, while Yemen'



