Iran and Oman near agreement on Strait of Hormuz shipping lanes

Iran and Oman are in the final stages of negotiating a deal to define new shipping lanes through the Strait of Hormuz. Iranian Foreign Minister Abbas Araqchi confirmed that the agreement is nearing completion, which would establish navigation routes for the waterway once it reopens. The strait, a critical global conduit for a fifth of the world's oil and liquefied natural gas, has been blocked by Iran since late February following military strikes by the United States and Israel.

Despite the progress on the maritime agreement, Tehran maintains that the strait will remain closed until the United States meets specific conditions, including the cessation of sanctions, military threats, and the payment of compensation. Araqchi emphasized that Iran is not engaged in direct talks with Washington and will not initiate them as long as the U.S. continues to breach an interim deal signed in June. Currently, communication between the two nations is conducted solely through intermediaries.