Overview
- Iran and Oman said on Wednesday they have agreed the geographic coordinates for a proposed shipping route through the Strait of Hormuz and are finalizing a joint statement to describe the plan.
- President Donald Trump said negotiations have made ‘‘a lot of progress’’ and that an announcement could come within 48 hours, while U.S. officials insist any deal must not give Iran effective control or permit transit fees.
- Regional officials and reports describe a draft framework that would route inbound vessels through waters near Iran and outbound traffic through Omani waters, with proposed service fees for security and environmental work under discussion.
- Implementation remains fragile because the plan needs sign‑offs inside Iran — including from the IRGC and possibly the supreme leader — and because attacks on commercial shipping, including Houthi strikes and mine threats, continue to endanger passage.
- Markets have reacted to optimism about a reopening, with oil prices easing, and analysts warn that even a short interim deal would change who manages the chokepoint, could be tied to lifting the U.S. blockade of Iranian ports, and would affect global energy flows and diplomacy.