Oman presented Iran with a plan to manage the user-friendly Strait of Hormuz with voluntary fees to stabilize regional trade.
Oman presented Iran with a maritime management plan backed by Gulf states to regulate the Strait of Hormuz, featuring a system of voluntary fees for ships passing through the waterway. The proposal aims to stabilize trade and potentially end disruptions caused by the US-Israeli war on Iran. While the administration announced a pause in hostilities, President Trump said there were "good talks" underway with Iran, though he warned that strikes would resume if negotiations do not produce results. Iran denies seeking direct negotiations with the United States, though it suggests messages are being exchanged via intermediaries. The plan seeks to balance Iran's desire for management rights and service fees with Washington's goal of returning to a status quo where ships pass freely without mandatory payments. Meanwhile, markets have responded positively to the temporary pause in hostilities, with oil prices falling as regional stability improves.