Key facts
- Oman has stated that positive talks are underway with Iran regarding an agreement to secure shipping routes through the Strait of Hormuz.
- Iran's Foreign Minister indicated that while discussions are in their final stages, the reopening of the strait is contingent on other conditions.
- Iran's security chief outlined six demands for the US, including a halt to threats and release of frozen assets, as prerequisites for reopening the strait.
- The UAE reported that an Adnoc tanker was targeted by a missile in what it described as a "hostile Iranian attack."
- The UK Maritime Trade Operations reported a ship being struck by an unknown projectile off the coast of Oman.
Oman has announced that positive discussions are taking place with Iran concerning an agreement to secure shipping routes through the Strait of Hormuz. However, Iran's Foreign Minister, Abbas Araghchi, stated that while talks are in their final stages, the reopening of the vital waterway remains "subject to other conditions."
Tehran has effectively blockaded the strait, through which approximately one-fifth of the world's oil and natural gas typically flows, since February. Recent discussions have centered on a potential deal between Iran and Oman for a new route, with shared responsibility, aimed at resuming shipping traffic.
Araghchi elaborated that the full reopening of the maritime route depends on other conditions being met, including Iran receiving compensation from the US for alleged violations of a previous agreement. Mohammad Baqer Zolqadr, Iran's security chief, further stated that the Strait of Hormuz would not reopen until the US "corrects" its behavior and meets six Iranian demands, such as ending threats and releasing frozen assets.
US President Donald Trump indicated that a deal with Iran might be reached soon. However, Vice-President JD Vance expressed more skepticism, telling Fox News that significant work remains and the situation is far from over. Vance mentioned the application of diplomatic, economic, and military tools to achieve the best outcome for Americans and discussed setting up a traffic scheme for safe passage of ships.
Regarding potential fees for vessels crossing the strait, Vance downplayed reports of Iran seeking 5% to 7% of cargo value, stating the Iranians had informed the US they have no plans to toll the Strait of Hormuz.
Separately, the UAE reported that an Adnoc tanker was hit by a missile in what it called a "hostile Iranian attack" off the coast of Oman, with no casualties. The UK Maritime Trade Operations agency also reported a ship being struck by an "unknown projectile" off Oman, causing a fire that was extinguished without casualties. It remains unclear if this refers to the same vessel as the UAE incident.