Iran and Oman have reached a bilateral agreement regarding the division of maritime traffic in the Strait of Hormuz and the distribution of generated revenue, according to the semi-official Iranian news agency Tasnim, citing a spokesperson for the Revolutionary Guard. The pact resolves terms for both nations’ shares of the strategic waterway’s waters and revenue streams following roughly a month of negotiations.
Maritime Control and Revenue Sharing Agreement
According to the Revolutionary Guard spokesperson cited by Tasnim, negotiations with Oman began approximately a month ago and successfully yielded terms accepted by both governments. The agreement establishes concrete allocations for both nations regarding the waters of the strait and the income derived from passing vessels. However, the spokesperson stated that the United States created obstacles during the diplomatic process, resulting in delays to the final pact.
Did you know? Before military hostilities escalated in February, roughly one-fifth of the global supply of oil and gas passed through the narrow Strait of Hormuz, alongside vital bulk goods like aluminum and fertilizer.
Current Traffic Restrictions in the Strait of Hormuz
The Strait of Hormuz remained open to international shipping prior to military strikes launched by the United States and Israel against Iran in February. Since those attacks, the passage has been closed and placed largely under Iranian control. Traffic through the corridor has dropped significantly. On Tuesday, only five vessels navigated the strait, a steep decline from pre-war traffic volumes that typically exceeded 50 ships per day.
Contlicting positions persist regarding the legal status of the waterway. United States President Donald Trump has repeatedly claimed that the strait is open for general shipping traffic. Conversely, Iran maintains that the corridor remains strictly closed to any vessel lacking official permission to pass issued directly from Tehran.
Frequently Asked Questions
Who reached the agreement on the Strait of Hormuz?
Iran and Oman agreed to the pact, according to a statement from a Revolutionary Guard spokesperson reported by the Tasnim news agency.
What does the agreement cover?
The deal establishes the division of maritime traffic and revenue generated within the Strait of Hormuz between Iran and Oman.
How much traffic currently moves through the strait?
Only five ships passed through the strait on Tuesday, compared to over 50 ships daily before the conflict involving the United States, Israel, and Iran began in February.
What is the current status of the waterway according to Iran?
Iran insists the strait remains closed to all vessels unless they obtain explicit permission from Tehran to transit the area.
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