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 strategic waterway depends on other conditions, notably compensation from the United States to Iran.

Araqchi noted that the previous shipping traffic separation scheme was no longer acceptable to Tehran and that Iran is discussing a temporary route with Oman while technical and legal issues regarding a permanent route are resolved. He also 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, who control opposite sides of the strait, to allow normal oil traffic to resume. The official indicated that US actions will remain performance-based and tied to Iran’s implementation of its commitments.

The agreement between Iran and Oman is viewed as a crucial step toward a broader resolution of the conflict that began with US and Israeli attacks on Iran on February 28, 2026. Araqchi added that once commercial shipping is restored without impediments, the United States will lift its blockade of Iranian ports.

Meanwhile, tensions remain high in the region. The United Arab Emirates (UAE) reported that Iran attacked a carrier affiliated with its state oil company with a missile while it was transiting the Strait of Hormuz, although no injuries were reported. The Abu Dhabi National Oil Company, one of the world's largest energy producers, stated that 15 of its vessels have been struck in what it described as unprovoked attacks in the strait since the conflict began, resulting in one crew member killed and 20 wounded.

Vessels continue to navigate near the Strait of Hormuz, as seen from Musandam, Oman, on August 6, 2026.

Sources