Iran said a deal with Oman to reopen the Strait of Hormuz is close to being finalised, with reports suggesting that Tehran would have control over ships entering the Gulf through the strategic waterway. The two countries, which sit on opposite ends of the narrow strait, have been engaged in talks to jointly manage the key shipping route, which has been effectively closed since the start of the war in February.
Iran has insisted that the strait would not operate as it did before the conflict, when it functioned as an open international waterway carrying about a fifth of the world’s oil and gas supply. Tehran is seeking greater control over the flow of maritime traffic through the channel. Several media reports suggest that Oman would oversee outbound shipping through the strait. The U.S. is also anticipating an agreement soon between the two countries, which sit on either side of the strait, so that normal oil traffic could resume.
A deal between Iran and Oman over control of the strategic waterway is seen as crucial to a wider peace agreement. Before the U.S. and Israel launched the war on Iran on February 28, about one out of every five barrels of oil consumed worldwide transited the strait. However, Iran has used the hostilities to justify charging a toll on oil tankers and firing on ships that attempt to cross the strait without permission.
(File Photo, Caption: This mobile phone photo shows merchant vessels stranded in the Strait of Hormuz near Khasab, Oman, May 29, 2026)
