Iranian Foreign Minister Abbas Araqchi announced on Saturday, August 8, 2026, that Iran and Oman are "very close" to reaching an agreement on a new shipping route through the Strait of Hormuz. However, he emphasized that reopening the strait would depend on other conditions, notably compensation from the United States to Iran.

The previous shipping traffic separation scheme was deemed unacceptable by Tehran, prompting discussions with Oman about a temporary route while technical and legal matters concerning a permanent route are resolved. Araqchi stated, "Whenever the United States accepts Iran’s conditions, the Strait of Hormuz will certainly be reopened."

A US official, speaking anonymously on Friday, August 7, 2026, expressed anticipation of an imminent agreement between Iran and Oman, which border the strait, to allow normal oil traffic to resume. The US has indicated its actions will remain performance-based and contingent on Iran fulfilling its commitments.

The strategic waterway's control is critical to resolving the broader conflict that began with US and Israeli attacks on Iran on February 28, 2026. Araqchi also noted that once commercial shipping is restored without impediments, the United States will lift its blockade of Iranian ports.

Meanwhile, tensions persist in the region. The United Arab Emirates reported that Iran attacked a carrier affiliated with its state oil company with a missile while it was transiting the Strait of Hormuz, though no injuries were reported. The Abu Dhabi National Oil Company stated that since the conflict's onset, 15 of its vessels have been struck in what it described as unprovoked attacks, resulting in one crew member killed and 20 others wounded.

Vessels continue to navigate near the Strait of Hormuz, as seen from Musandam, Oman, on August 6, 2026, underscoring the waterway's ongoing significance and volatility.

Sources