🕒 Created · Updated

Hossein Mohebi confirms Iran and Oman have agreed to share revenues from the Strait of Hormuz as they establish a temporary maritime corridor.

Hossein Mohebi, a spokesman for Iran’s Revolutionary Guards, stated that Iran and Oman have reached an agreement to share revenues from the Strait of Hormuz. The two countries are developing a temporary framework to restore commercial shipping through the strategic waterway, which carries approximately 20% of the world's oil supply. Under the proposed arrangement, commercial vessels entering the Arabian Gulf will travel through Iranian waters, while outbound ships will follow a route passing through both Iranian and Omani waters. Iranian Deputy Foreign Minister Kazem Gharibabadi noted that this potential agreement would exclude military vessels from the usage of the strait. The routes are intended to be temporary, with the two nations having 30 to 60 days to discuss a permanent maritime traffic plan. While the agreement aims to ease navigation, the United States has rejected Iran's proposal to charge ships for passage. The administration announced what it called the toughest sanctions in history on Iran earlier in the week. Meanwhile, the administration is also working on a deal to secure long-term access to a portion of Venezuela's crude reserves.

Sources

Paywall and unreadable sources