Iran-Oman Deal on Strait of Hormuz: Conflicting Accounts as Negotiations Continue
Iran and Oman are reportedly close to finalizing a deal on managing the Strait of Hormuz, though the two sides and the Trump administration disagree on whether direct U.S.-Iran negotiations are occurring.
What Happened
Iran says it is nearing the finalization of a deal with Oman to co-manage the Strait of Hormuz, while President Trump said a lot of progress has been made on the waterway, but Iran says the U.S. is not involved. Iran and Oman are close to agreeing on new arrangements for the Strait of Hormuz, but not for a full reopening of the vital waterway, Iran's state news agency says.
Competing Narratives
Iran's parliament speaker and top negotiator accused US President Donald Trump of "theater diplomacy" on Thursday as Washington and Tehran gave sharply conflicting accounts of whether talks to reopen the Strait of Hormuz were taking place. Ghalibaf's comments were an apparent response to Trump, who has repeatedly said negotiations with Iran are underway, telling Fox News on Tuesday that "They had an all-day negotiation today, and it looks like things are very good," though Tehran has denied any US-Iran talks are taking place or planned.
Strategic Importance
The Strait of Hormuz is one of the world's most critical shipping lanes, through which approximately one-third of globally traded petroleum passes. Any arrangement affecting access to the waterway has massive implications for international energy markets and geopolitical stability.
Economic Impact
A proposed deal between Iran and Oman could give Tehran more control over who enters the Strait of Hormuz and complicate access to the vital waterway for the shipping industry.