Iran, Oman reach understanding on Hormuz Strait reopening deal: Reports
Riyadh, Tehran, Aug 6 Iran and Oman have reached an understanding on the outlines of an agreement to reopen the Strait of Hormuz for 60 days, Saudi-based Al Hadath news channel and Al Arabiya news channel reported Thursday, both citing high-ranking sources.
The sources said the agreement, which still needs approval by Iran's Supreme National Security Council and could be announced within days, aims to resume navigation in the waterway, Xinhua News Agency reported.
Vessels entering the strait will use a route close to Iran, while those leaving will take one close to Oman. No transit fees or service charges will be imposed, and regional parties may participate in demining and technical procedures, the sources said.
Following the agreement's approval, the United States and Iran will return to their peace memorandum of understanding (MoU) and activate Paragraph 5 concerning the reopening and safe navigation of commercial shipping through the strait, the sources said.
Indirect contacts between Iran and the United States remain through mediators and have entered their final stage, the sources added.
Iran tightened its grip on the strait on Feb. 28, barring safe passage of vessels belonging to or affiliated with Israel and the United States following their joint strikes on Iranian territory.
In June, Iran and the United States signed the MoU on ending the war on all fronts, including Lebanon. The two sides were scheduled to hold negotiations within a 60-day period to reach a final agreement, but recent escalation in the region has left the talks' fate uncertain.
Meanwhile, Iran's Acting Defence Minister, Brigadier General Majid Ebn-e-Reza, on Thursday expressed the Iranian Armed Forces' readiness to respond to any threat and emphasised that Tehran's capabilities are backed by its domestic defence industry, local media reported.
"Every day, the signs of the enemy's erosion of power become more evident; however, our Armed Forces, relying on the country's defence industry, are fully equipped to respond to any threat," Iran's official Islamic Republic News Agency (IRNA) quoted Majid Ebn-e-Reza as saying in a message shared on his social media account.
Majid Ebn-e-Reza warned that nations that want to buy security and military superiority from abroad will soon realise that the indigenous technology of Iran is superior to any system in the region, IRNA reported.
— IANS
Reader Comments
The Middle East situation directly affects our fuel prices in India. This deal sounds promising but I'm concerned about the demining part - that's dangerous work. At least they're not charging transit fees, which would have made everything costlier for everyone.
Honestly, I'm skeptical about these "understandings" between Iran and western allies. We've seen such deals fall apart before. India should keep diversifying its energy imports rather than relying on this volatile region so much.
As someone who follows geopolitics closely, this seems like a calculated move. The 60-day window gives everyone time to negotiate without escalating tensions. Good diplomacy in action. Let's hope it works out for all sides involved.
This is a significant step for global oil markets. The fact that no transit fees are being imposed shows both sides want to get commerce flowing again. India should welcome this development since our refinery imports could become more stable.
The Gulf region is like our extended neighbourhood, and Hormuz is the lifeline for LNG imports to Gujarat and Maharashtra. This agreement, if it holds, will help stabilize regional trade. But the real test is whether both sides uphold their commitments.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.