Iran is nearing a final pact with Oman to define new shipping lanes through the Strait of Hormuz, but Tehran insists the United States must meet several key demands before the strategic waterway reopens, according to statements reported by Reuters. Iranian Foreign Minister Abbas Araqchi stated on Sunday that the agreement is in its final stages, while maintaining that normal commercial transit remains contingent on the removal of sanctions, military threats, and a U.S. naval blockade.
Oman Deal Progress and Indirect Talks
Negotiations regarding the critical oil and gas conduit have advanced through regional intermediaries. According to Reuters, a U.S. official confirmed on Friday that Iran and Oman were close to a deal designed to restore safe passage. The waterway was blocked by Iran following military strikes launched by the United States and Israel in late February.
Araqchi emphasized that Tehran is not engaging in direct talks with Washington, noting that indirect messages continue via intermediaries. Iran maintains that the U.S. must honor terms previously outlined in an interim deal signed in June before shipping operations can resume without impediments.
Iranian Demands for Reopening the Strait
The reopening of the Strait of Hormuz depends on a comprehensive shift in U.S. and allied policy, according to senior Iranian officials. Mohammad Baqer Zolqadr, secretary of Iran’s top national security body, outlined specific conditions required for the waterway to reopen:
- Financial compensation from the United States for damage caused during military attacks.
- An end to U.S. threats and military aggression against Iran and its regional allies in Lebanon, Palestine, Yemen, and Iraq.
- Removal of the U.S. naval blockade in the Gulf and the lifting of economic sanctions on Iran.
- The release of frozen Iranian assets.
U.S. President Donald Trump addressed the standoff in an interview with Axios, stating that his administration is maintaining economic pressure while avoiding additional military escalation. “We are only semi-negotiating with them,” Trump told Axios, pointing to high inflation and financial constraints inside Iran.
Regional Security and Maritime Incidents
The closure of the Strait of Hormuz has coincided with broader maritime disruptions across the region. The United Arab Emirates reported on Saturday that a ship affiliated with its state oil company had been attacked. Meanwhile, Yemen-based Houthi rebels have continued targeting vessels at another oil chokepoint between the Red Sea and Gulf of Aden.
The Houthi movement declared a naval blockade against Saudi Arabia last month, following what the group described as a Saudi siege on them in Yemen. Riyadh, which denies the allegations and supports Yemen’s internationally recognized government, recently signed a defense pact with Turkey and Pakistan to bolster regional security.
Economic Impact and Outlook
The prolonged blockage of the Strait of Hormuz has rattled global energy markets and driven up fuel prices since the conflict began on February 28. However, President Trump noted that falling global oil prices have softened the immediate impact on American consumers as the November midterm elections approach.
Under the terms being discussed through Omani mediation, once the United States lifts its blockade of Iranian ports and meets Tehran’s conditions, commercial vessel traffic will resume under new transit lanes defined in the Omani pact, according to statements provided to Reuters by U.S. and Iranian officials.
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