A proposed agreement between Iran and Oman would give Tehran control over ships entering the Persian Gulf through the , marking one of the biggest concessions yet in , Reuters reported citing a senior Iranian source and two regional officials.
However, despite signs of progress, Iranian officials pushed back against US President Donald Trump’s suggestion that a deal to reopen the strait was imminent, saying important details remain unresolved.
The Strait of Hormuz, which previously carried around one-fifth of the world’s oil and liquefied natural gas shipments, has become a focal point of the conflict that erupted after the .
Iran says agreement is close but not final
According to Reuters, the draft agreement currently under discussion would place , while negotiators continue to discuss Tehran’s role over outbound vessels.
One regional source told Reuters that “the concession has already been made regarding some form of control over Hormuz,” while another said negotiators were still debating how Iranian “control” would be defined.
Gulf states are seeking regional oversight of ship inspections and want any payments by vessels using the route to remain voluntary rather than mandatory.
Iran’s Deputy Foreign Minister Kazem Gharibabadi later told state news agency IRNA that negotiators had reached “fundamental understandings” on the maritime routes.
“A significant portion of this new route is located in Iranian territorial waters, and a part of it is in Omani territorial waters,” Gharibabadi said.
“It is designed in such a way that commercial ships will pass through Iranian territorial waters, both on the inbound and outbound legs of their journey.”
He added that had made “significant progress” and were close to being finalized.
Trump says deal could come within days
Speaking to reporters traveling with him in California, Trump said an agreement to reopen the strait could be announced soon.
“It could happen. Tomorrow or the next day. A lot of progress has been made,” said.
Trump has repeatedly said negotiations are close to ending the conflict and reopening the strategic waterway, citing diplomacy as the reason for canceling planned military strikes against Iran over the weekend.
However, Iranian officials cautioned that negotiations remain fragile.
“The devil is in the details. A single tweet from Trump could cause the whole thing to collapse,” an Iranian source told Reuters.
US opposes Iranian control and shipping fees
US officials have consistently maintained that Washington would not accept any arrangement giving Iran authority over access to the Strait of Hormuz.
According to Reuters, one of the key sticking points remains Iran’s proposal to charge ships using the waterway.
The senior Iranian source said Tehran is seeking fees ranging from 5% to 7% of the value of cargo carried through the strait.
Oman has proposed lower charges of around 3%, while the United States wants no transit fees at all.
Negotiators are discussing making any payments voluntary, although Reuters reported that shipping companies could still feel compelled to pay because of concerns about Iranian attacks on vessels.
Oil prices edge lower despite continued tensions
Oil prices eased slightly on Wednesday after rising earlier following claims by Yemen’s Iran-backed Houthi movement that it had launched missile attacks on a Saudi-flagged oil tanker in the Red Sea.
Crude prices have fallen sharply over the past two days after Trump cited progress in negotiations as the reason for halting fresh attacks on Iran.
Despite the optimism, months of US military operations, including an intensive bombing campaign in July, have failed to break Iran’s grip on the Strait of Hormuz, Reuters reported.
UN urges negotiated solution
The United Nations said it had not received direct confirmation that an agreement had been reached but welcomed efforts to resolve the dispute through diplomacy.
“We certainly encourage the parties to move forward with any effort to have a negotiated solution to the issue,” UN deputy spokesperson Farhan Haq said.
