Iran Finalizes Hormuz Shipping Deal With Oman as 20% of Global Oil Trade Hangs on Strait
Updated
Updated · The Associated Press · Aug 17
Iran Finalizes Hormuz Shipping Deal With Oman as 20% of Global Oil Trade Hangs on Strait
3 articles · Updated · The Associated Press · Aug 17
Summary
Iran said it has reached an understanding with Oman on ship transit through the Strait of Hormuz and is now finalizing a joint statement covering the route map and operating terms.
The plan would reopen the strait with inbound ships using a lane near Iran and outbound ships a lane near Oman, with no fees or tolls during an interim period.
Washington has made reopening the waterway a condition for ending its blockade of Iranian ports after Iran effectively shut the strait following U.S. and Israeli attacks on Feb. 28.
Trump renewed pressure by saying the U.S. would bomb Oman if it obstructed the arrangement, while also dismissing the expiry of a 60-day U.S.-Iran peace deadline as irrelevant.