BLACK mobile logo

united states

Iran says deal with Oman on Strait of Hormuz is in final stages

August 6, 2026

Iran has announced it is finalizing an agreement with Oman to establish a shipping route through the Strait of Hormuz, which Iran has largely blocked since February 2026 following US and Israeli military strikes. The proposed route would be temporary, lasting two to four months, though Iran warns that US naval blockades and other threats continue to make the strait unsafe. A major sticking point remains Iran's demand to charge fees on vessels using the strait, with Iran seeking 5-7% of cargo value while the US wants no fees at all.

Who is affected

  • Iran
  • Oman
  • The United States
  • Israel
  • Global oil and LNG shipping companies and their vessels
  • Yemen's Iran-backed Houthis
  • Saudi Arabia
  • US-allied Gulf states
  • Iranian Supreme Leader Ayatollah Mojtaba Khamenei
  • Iranian President Masoud Pezeshkian
  • Global energy consumers affected by oil price fluctuations

What action is being taken

  • Iran and Oman are finalizing an agreement on shipping routes through the Strait of Hormuz
  • The US is maintaining a naval blockade of Iranian ports
  • Yemen's Iran-backed Houthis are imposing a blockade on Saudi Arabia's Red Sea ports
  • Iran is requiring all passage through the strait to be cleared beforehand
  • Iran is attacking vessels that ignore its clearance orders

Why it matters

  • This matters because the Strait of Hormuz is a critical chokepoint for global energy supplies, with approximately 20% of the world's oil and liquefied natural gas normally passing through it. The strait's effective closure since February 2026 has caused severe disruptions to global energy shipments and wild fluctuations in oil prices, impacting the global economy. The proposed deal represents a potential breakthrough in resolving an international crisis that has emerged from the broader conflict between Iran, the US, and Israel, though significant obstacles remain regarding fees and security guarantees.

What's next

  • The Iran-Oman agreement on geographical coordinates for the shipping route is expected to be finalized
  • The temporary route could potentially stay open for two to four months
  • Senior US officials indicated that shipments could potentially resume later this week (relative to the article's publication date)
  • Negotiations continue regarding vessel fees, with Iran, Oman, and the US holding different positions on the appropriate amount

Read full article from source: BBC