Iran and Oman have agreed to share revenues from the Strait of Hormuz, according to Iran’s Revolutionary Guards. The agreement comes as both nations work to restore commercial shipping through the critical waterway. The deal is part of a temporary framework aimed at easing disruptions caused by recent tensions in the region.
The agreement includes provisions for dividing the waters of the strait and allocating revenue between the two countries. Guards spokesman Hossein Mohebi confirmed that negotiations with Oman led to these agreements. The move is seen as a step toward stabilizing maritime trade, which is vital for global oil and gas supplies.
The talks follow a series of attacks on tankers in the strait, which have raised concerns about supply disruptions. While the agreement does not yet include full reopening of the waterway, it signals progress in addressing the crisis. The situation remains tense, with external pressures from the US and Israel affecting the region’s stability.
Shipping traffic through Hormuz has shown slight increases, with 10 vessels transiting on Wednesday, up from eight the previous day. However, the volume remains low compared to normal levels. The ongoing negotiations reflect a broader effort by regional powers to de-escalate the conflict and restore trade flow.
