Iran, Oman Finalize Hormuz Shipping Route Deal Pending Khamenei Approval

Iran and Oman have finalized an agreement on geographic coordinates for a shipping route through the Strait of Hormuz, pending approval from Iran's supreme leader, Ayatollah Ali Khamenei. The deal, which could last between two to four months, aims to reopen the vital waterway, with transit fees identified as a key obstacle.

Mediators have reported progress in US-Iran talks aimed at ending conflict and reopening the Strait of Hormuz. President Trump stated that the US held negotiations with Iran, warning of severe consequences if a deal is not reached. Reports indicated that the US and Iran were close to an interim deal to reopen the Strait of Hormuz, with Oman's agreement.

However, Iran's state media suggested a delay in the agreement with Oman due to ongoing US threats. A proposed deal would reportedly give Iran control of inbound traffic through the Strait of Hormuz. Oil prices have fallen amid hopes of a Hormuz reopening, though Houthi threats have limited losses.

Iran's deputy foreign minister stated that no recent US talks occurred and that the Oman route deal is nearing finalization.