Iran on Sunday said it was nearing a deal with Oman over a new route through the Strait of Hormuz, hours after the US called off major strikes to allow for diplomacy. US President Donald Trump said on Saturday that his country and Israel had agreed to hold off on new strikes on Iran, saying the "per…
Iran and Oman are close to an agreement to fully reopen the Strait of Hormuz to shipping traffic that would see both countries collect a so-called "service fee" to cover environmental and security costs.
A framework that gives Tehran a formal role in determining how ships move through the waterway could strengthen its hand in future negotiations with the US.
Negotiations between Oman and Iran over future control over the Strait of Hormuz are making significant progress, Iran's foreign ministry announced on Tuesday, as Washington touts an incoming deal to reopen the waterway.