Iran says a deal with Oman on managing traffic through the Strait of Hormuz is close, but stresses that agreement alone will not reopen the waterway to normal oil traffic. The United Arab Emirates reported a fresh missile strike on an ADNOC-linked tanker in the strait, and Washington says lifting its blockade of Iranian ports depends on Iran meeting its commitments.
Iran's foreign minister said Saturday that Tehran and Muscat are near a new shipping-route agreement for the Strait of Hormuz, the same day the United Arab Emirates reported that Iran struck one of its tankers with a missile as the vessel crossed the waterway. No casualties were reported in the strike.
Foreign Minister Abbas Araghchi said the deal with Oman would replace the traffic-separation scheme used before the war, but he stressed that fully reopening the strait depends on further conditions, including compensation from Washington for alleged U.S. violations of the Islamabad memorandum of understanding. Iran is negotiating a temporary two-to-four-month route with Oman while the two sides work out legal and technical details of a permanent arrangement.
Washington ties the port blockade to Iran's compliance
A U.S. official who spoke to Reuters on Friday on condition of anonymity said Washington expects a deal between Iran and Oman soon and would lift its blockade of Iranian ports once commercial shipping resumes without impediments. The official added that any U.S. steps would stay performance-based and tied to Iran's fulfillment of its commitments.
But hardline voices in Tehran signaled that an Oman-only deal will not end the standoff. IRGC spokesperson Hossein Mohebbi said reopening the strait is separate from the Muscat talks and demanded that Washington stop interfering in the regional negotiations. According to Reuters: "Whenever the United States accepts Iran's conditions, the Strait of Hormuz will certainly be reopened."
A deal that could give Iran new leverage
Sources told Reuters on Wednesday that a proposed Iran-Oman deal would hand Tehran control over ships entering the Gulf through the strait, one of the biggest concessions offered to Iran so far. U.S. officials have repeatedly said they would never accept Iran controlling access to the route. The strait carried about 20% of global oil and gas shipments before the war began on February 28.
Iran has used the conflict to justify charging a toll on tankers and firing on ships that cross the strait without its permission, disrupting global shipments, pushing energy prices higher and fueling inflation.
ADNOC said 15 of its vessels have been struck since the fighting began, killing one crew member and wounding 20 others. Iran's Yemen-based allies, the Houthis, have stepped up parallel attacks on shipping at the Red Sea and Gulf of Aden chokepoint.
Sources: Economy News, Commodities & Futures News
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