Iran and Oman Reach Hormuz Deal, Reopening Hinges on US Compliance

Iran and Oman have finalized their respective allocations of the Strait of Hormuz and its associated revenues; however, the crucial waterway will remain closed unless the United States agrees to their terms, as stated by Iran's Revolutionary Guards. This information was disclosed on Wednesday by Hossein Mohebbi, a spokesman for the Islamic Revolutionary Guard Corps, through Iranian state media. For approximately a month, Iran and Oman have been engaged in discussions aimed at regulating traffic in the strait, which previously facilitated one-fifth of the world's oil and liquefied natural gas shipments before the onset of war in February. The IRGC accused the US of hindering the negotiations, which has led to delays. Mohebbi emphasized that the strait could be reopened if the US ceases its interference and complies with their conditions.