Iran and Oman have reached an interim agreement to share revenue from the Strait of Hormuz, according to a statement by Iran's Islamic Revolutionary Guard Corps (IRGC). The deal is part of efforts to reopen and control the strategic waterway, which remains a focal point of regional tensions.
The agreement comes after months of negotiations between the two nations, with both sides working to establish a framework for managing the strait. While the exact terms of the revenue-sharing plan have not been fully disclosed, the IRGC confirmed that the deal includes provisions for the management and oversight of the strait.
Tehran has emphasized that the agreement does not signal the strait is fully open, but rather represents a step toward stabilizing maritime traffic. Oman, a key regional partner, has expressed confidence in the progress made, though details of the broader strategic implications remain under discussion.
The deal is seen as a potential breakthrough in easing concerns over the security and economic impact of the strait, which is critical for global oil trade. However, the full implementation of the agreement will depend on further diplomatic coordination between the two nations.
