Iran and Oman have reached an interim agreement to share revenue from the Strait of Hormuz, according to Iran's Islamic Revolutionary Guard Corps. The deal comes amid ongoing efforts to reopen the strategic waterway, which is critical for global oil trade. The agreement is part of broader negotiations between the two nations to manage traffic and security through the strait.
The Iranian government has claimed that the agreement with Oman does not signal the strait is open, emphasizing that the deal remains a step toward full reopening. A senior Iranian source confirmed that talks are still ongoing, though progress has been made on financial arrangements. The revenue-sharing plan is seen as a key incentive for Oman to support the deal.
The Strait of Hormuz remains a focal point of regional tensions, with Iran and the United States both seeking to influence its control. The U.S. Has criticized Iran's actions in the region, while Tehran has accused Washington of failing to project power effectively. The new agreement could ease some of the economic pressures on Oman, which has been involved in the negotiations.
The deal is expected to be finalized in the coming weeks, with both sides aiming to restore stability in the region. However, full reopening of the strait remains conditional on further diplomatic progress and security assurances.
