Iran is advancing a proposed deal with Oman to manage the Strait of Hormuz, a crucial waterway for global energy flows. According to local media reports, Iran will seek to bar US and Israeli ships from passing through the strait and require compensation from countries it deems hostile before allowing their vessels access. The agreement also includes a proposed ban on cargo related to Israel and a fee structure covering services such as insurance and environmental costs.

The text of the deal is currently under review in Iran’s parliament, the semi-official Fars news agency reported. Separately, Fars stated on Thursday, August 6th, 2026, that Iranian naval forces had struck "hostile targets" at the entrance to the Strait of Hormuz, citing an unnamed source without further details.

These developments have contributed to a rise in oil prices and a decline in stock markets. Thomas Warrick, a former US State Department official and current senior fellow at the Atlantic Council, commented, "That’s clearly not going to go down well in Washington. Instead of both sides making concessions, both sides are increasing demands."

The deal is seen as key to reopening the Strait of Hormuz and resuming energy flows that have been restricted since US and Israeli attacks on Iran earlier this year.

Sources

  • South China Morning Post World, "Iran seeks to bar US ships as Hormuz deal with Oman advances," August 6, 2026: Link