Iran Says Oman Hormuz Deal Nears Completion as US Action Looms

Iran said on Sunday that a deal with Oman to establish new shipping lanes through the Strait of Hormuz was in its final stages.

However, Tehran made clear that the waterway would not reopen until the United States meets several other conditions, keeping hopes of a quick return to normal shipping uncertain.

Iranian Foreign Minister Abbas Araqchi said the agreement would define the new routes that ships could use once the conditions are met. He also said Iran and the United States were not holding direct talks, although messages were being passed through intermediaries.

Tehran has refused to resume negotiations while accusing Washington of breaking an interim ceasefire agreement reached in June.

• Iran says Oman deal on Strait of Hormuz shipping routes nears completion
• Hormuz reopening depends on US action and Iran's wider conditions
• Iran US tensions keep global energy markets and Gulf shipping uncertain

Iran Seeks Compensation and End to Sanctions

The Strait of Hormuz is one of the world's most important shipping routes, carrying about one-fifth of global oil and liquefied natural gas shipments before Iran blocked it following U.S. and Israeli attacks. Any prolonged disruption has raised concerns for global energy markets, shipping companies and countries that depend heavily on Gulf supplies. 

Araqchi said the reopening of the strait would depend on several conditions. These include compensation from the United States for its attacks on Iran, an end to what Tehran describes as U.S. threats and military action, the lifting of U.S. sanctions, the blockade on Iran, and the release of Iranian assets.

Mohammad Baqer Zolqadr, secretary of Iran's top national security body, also called for an end to U.S. pressure on Iran and its allies in Lebanon, Palestine, Yemen and Iraq. His comments underline the broader Middle East tensions surrounding the reopening of the waterway.

The United States began air strikes on Iran in late February, saying the goal was to prevent Tehran from developing nuclear weapons and to counter threats from missiles and regional proxy groups. A ceasefire was agreed in June, but Washington reimposed a blockade on Iranian shipping in the Gulf in July. Iran has said the move violated the truce. 

Washington, however, has indicated that there is a possible path toward reopening commercial shipping. A U.S. official told Reuters that the United States would lift its blockade of Iranian ports once an agreement was announced to restore commercial shipping without restrictions. The official added that U.S. steps would depend on Iran carrying out its commitments. 

Regional Tensions Add to Shipping Uncertainty

The proposed arrangement could still face practical difficulties. Earlier reports suggested that Iran could have significant control over ships entering the Gulf through the Strait of Hormuz. Shipping industry sources have questioned whether such an arrangement would be workable for international shipping operators. 

The latest statements from Tehran also suggest that reaching the Oman agreement will not automatically lead to the reopening of the strait. Iran's wider demands remain a major part of the discussion, while the United States has tied its own actions to Iran's implementation of shipping commitments.

Tensions in the region have also continued to rise. The United Arab Emirates said Iran attacked a ship linked to its state oil company in the Strait of Hormuz on Saturday. Iran had not immediately commented on the incident, according to Reuters. The incident has added to concerns about Gulf shipping security. 

At the same time, Yemen's Houthi movement said it had carried out a drone attack on Saudi Aramco's Jazan refinery. Saudi Arabia's energy ministry confirmed that a fire broke out at the refinery but said it was later extinguished and there were no injuries. The developments have added to concerns over Saudi oil infrastructure and regional stability.

The developments come as Saudi Arabia strengthens its regional security ties. Riyadh recently signed a defence pact with Turkey and Pakistan as regional tensions continue to grow. Turkish Foreign Minister Hakan Fidan said the agreement was not aimed specifically at Iran but was a broader commitment to regional security. 

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For energy markets, the reopening of the Strait of Hormuz could provide some relief by allowing oil and gas shipments to move more freely. But until Iran and the United States resolve their differences, uncertainty is likely to remain. The proposed Oman agreement may be an important step, but restoring normal shipping will ultimately depend on whether both sides can agree on the wider conditions for oil and gas trade.