Iran Reaches Strait of Hormuz Revenue-Sharing Deal With Oman as US Standoff Persists
Updated
Updated · Bloomberg · Aug 26
Iran Reaches Strait of Hormuz Revenue-Sharing Deal With Oman as US Standoff Persists
3 articles · Updated · Bloomberg · Aug 26
Summary
Iran’s military said it has agreed with Oman to split revenue from the Strait of Hormuz and define each country’s share of the waterway’s waters.
Hossein Mohebbi, spokesman for the Islamic Revolutionary Guard Corps, announced the accord Wednesday in comments carried by the state-run Sepah News agency.
The agreement comes as Tehran’s confrontation with Washington over control of the strategic strait continues, tying the deal to a wider contest over one of the world’s most critical shipping chokepoints.