Iran and Oman to Reach Navigation Agreement for the Strait of Hormuz

Iran's Foreign Ministry spokesman Esmail Baghaei stated that the agreement between Iran and Oman regarding the management of shipping in the Strait of Hormuz is in its final stages and is expected to be completed within a few days. The two sides plan to establish a temporary safe passage and will submit the relevant arrangements to the International Maritime Organization for record. Baghaei mentioned that the negotiations are progressing smoothly and expressed hope that there will be no interference from third parties. If the agreement is finalized, it could lead to more tankers and merchant ships passing through this globally critical energy transport route and reduce the risk of Iranian attacks on shipping. Currently, about 7 million barrels of crude oil and refined products pass through the Strait of Hormuz daily, significantly lower than the 20 million barrels per day before the outbreak of conflict. Strengthening shipping management in the strait by Iran and Oman may indicate a further consolidation of Iran's actual control over this key passage. The United States hopes to restore the pre-war freedom of passage in the Strait of Hormuz, but there are still significant differences between the two sides. The US-Iran conflict has now entered its seventh month, and the blockade of the Strait of Hormuz has driven up prices for crude oil, fuel, and natural gas, exacerbating global inflationary pressures. Diesel prices in the US have reached an all-time high, and rising energy costs are putting greater political pressure on the Trump administration.

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