Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz, involving voluntary fees and regional backing, aiming to prevent Iran from exercising sole control over the vital waterway.
The proposal addresses critical geopolitical tensions and potential disruptions to global energy supplies by seeking a collaborative management approach for the Strait of Hormuz, a vital chokepoint for international trade.
Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz, which would involve voluntary fees and regional backing, according to a Gulf source. The initiative aims to prevent Iran from exercising sole control over the vital waterway.
This proposal follows earlier discussions between Iran and Oman regarding the strait's future governance. Iran's Deputy Foreign Minister for Legal and International Affairs, Kazem Gharibabadi, announced that the first meeting of a newly established joint Hormuz committee took place in Muscat. During this meeting, Gharibabadi and Omani minister of state for foreign affairs, Abdulaziz al-Hinai, reviewed current issues concerning the Strait and exchanged views on its future management.
Gharibabadi stated that the discussions were framed within the context of a memorandum of understanding signed between Tehran and Washington, mediated by Pakistan, and emphasized the sovereign rights of the littoral states. This inaugural committee meeting occurred after a joint statement was issued by Oman and Iran on June 22, following visits to Muscat by Iranian Parliament Speaker Mohammad Baqer Qalibaf and Foreign Minister Abbas Araghchi. Both nations stressed that any arrangements for the Strait of Hormuz must fully respect the sovereignty and rights of the two coastal states.
President Donald Trump indicated on Monday that the United States was having "good talks" with Iran, with a chance of a deal, but warned that U.S. strikes would resume if negotiations failed. The U.S. had recently suspended a campaign of air strikes against Iran, raising hopes for a diplomatic solution to allow shipping to resume in the Strait of Hormuz, which previously carried a fifth of global energy supplies.