Tehran: Iran announced it is in the final stages of drafting an agreement with Oman concerning the Strait of Hormuz, a strategic waterway. US President Donald Trump has indicated that a deal might be announced soon, a development that could potentially reopen the critical passage, ease global economic pressures, and contribute to ending the ongoing conflict.
According to France24.com, the agreement's fruition is likely dependent on the US lifting its blockade on Iran's ports. The Trump administration has previously expressed reluctance to any arrangement that would enhance Iran's control over the strait, considering it a significant strategic loss for the US and a deviation from international norms. Iran, on its part, insists on maintaining some degree of control over the strait, rejecting a return to its pre-war status as an open international waterway.
The conflict began on February 28, when the US, alongside Israel, launched military operations targeting Iran's government and its nuclear ambitions. These objectives remain unachieved, and the conflict has largely revolved around control of the strait, with Iran's shipping attacks severely disrupting maritime traffic.
The closure of the Strait of Hormuz has significantly impacted global oil and natural gas trade, causing fuel prices to surge and destabilizing the world economy. Domestically, Trump faces increasing pressure to resolve the unpopular conflict before upcoming congressional elections.
Esmail Baghaei, Iran's Foreign Ministry spokesperson, confirmed that the agreement with Oman is close to completion, pending a joint statement if external parties, implicitly referring to the US, do not impede the process.
Regional sources reveal that Iranian and Omani negotiators have completed a draft agreement, awaiting final approval from Iran's Supreme Leader Ayatollah Mojtaba Khamenei, who has not been publicly seen since reportedly being injured in the initial strikes of the conflict. The draft is seen as a temporary measure to address the strait's status, linked to a previous US-Iran agreement from June that aimed to end hostilities and reopen the waterway but ultimately failed.
The proposed agreement suggests ships would enter the Persian Gulf via an Iranian-controlled route and exit through Omani waters, with service fees levied for security and environmental maintenance. However, the US opposes any arrangement allowing Iran to impose these charges.
In a statement on Tuesday, Trump suggested that an announcement regarding the strait could be imminent, highlighting significant progress. Vice President JD Vance acknowledged the difficulties in resolving the conflict, emphasizing the complexity and time required for diplomatic efforts.
Despite initial easing, oil prices rose slightly on Wednesday, with Brent crude priced around $80 per barrel, significantly lower than at the conflict's peak. Trump's recent rhetoric has oscillated between threats of massive military strikes and support for diplomatic resolutions.
Meanwhile, regional tensions persist, with Iranian-backed Houthi rebels in Yemen claiming responsibility for attacks on Saudi oil tankers, and a vessel in the Gulf of Aden reporting an explosion. The ongoing strife threatens to reignite Yemen's civil war, further complicating maritime security in the region.
In related developments, the fragile ceasefire between Israel and Hezbollah showed signs of strain as Israel issued evacuation warnings in southern Lebanon. Talks in Rome between Lebanese and Israeli negotiators were cut short due to escalating tensions on the ground, though a State Department official described the discussions as "extremely productive."