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 claims are 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 regional allies, lifting blockades and sanctions, and releasing Iranian assets.

Iran's President Masoud Pezeshkian, described as a relative moderate, expressed optimism, stating he believes now is the best time for an agreement, noting, "There is cohesion, strength, and unity in the country, and as far as I know, Iran is considered victorious and powerful in this war."

Oman condemned repeated attacks on vessels transiting the strait without assigning blame and described ongoing negotiations with Iran as "positive and constructive."

A US official, speaking anonymously, said Washington anticipates an imminent agreement between Iran and Oman, who sit on opposite sides of the strait, to allow normal oil traffic to resume.

Tensions remain high as the United Arab Emirates (UAE) condemned what it called an Iranian attack on a carrier linked to its state oil company while passing through the Strait of Hormuz, accusing Tehran of "acts of piracy." State news agency WAM reported that a vessel from Abu Dhabi's state oil company ADNOC was targeted by a missile early Saturday local time, though the situation was reportedly under control with no injuries.

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

Sources