Iran and Oman are reportedly "very close" to reaching an agreement on a new shipping route through the Strait of Hormuz, according to Iranian Foreign Minister Abbas Araghchi. However, the deal's reopening depends on several conditions, including compensation for what Tehran describes as US violations of the Islamabad memorandum of understanding.

Mohammad Baqer Zolqadr, secretary of Iran's top national security body, outlined additional demands such as ending US threats and aggression against Iran and its allies, lifting sanctions and blockades, and freeing Iranian assets.

Iran's President Masoud Pezeshkian, identified as a relative moderate, expressed optimism, stating he believes now is the best time for an agreement, citing national cohesion and strength.

Oman condemned repeated attacks on vessels transiting the strait but did not assign blame, describing negotiations with Iran as "positive and constructive."

A US official, speaking anonymously, indicated that Washington anticipates an imminent agreement between Iran and Oman, which border the strait, to allow the resumption of normal oil traffic.

Tensions remain high as the United Arab Emirates (UAE) condemned what it described as an Iranian attack on a carrier linked to its state oil company ADNOC while passing through the Strait of Hormuz, accusing Tehran of "acts of piracy." State news agency WAM reported that the vessel was targeted by a missile early Saturday local time but that the situation was under control.

It has been 53 days since a ceasefire was signed between the United States and Iran, with strikes having resumed 11 days ago.

Sources