Iran and Oman Agree Route Coordinates in Talks to Reopen Strait of Hormuz

Overview

• Iran and Oman say they have defined geographic coordinates for a new transit route and are finalizing a joint statement, according to Iranian and regional officials.
• U.S. officials including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent have reported progress and said a short‑term reopening could be imminent.
• Key disputes remain over who would exercise oversight of transiting ships and whether Iran’s proposed “service fee” or penalties are part of the deal, a point U.S. sources reject.
• Any arrangement is provisional and must be approved by Iran’s political leadership, and Tehran says reopening also depends on U.S. concessions such as ending a naval blockade and addressing sanctions and frozen assets.
• Markets moved sharply on the talks with oil prices swinging as security incidents at sea continue and the proposed 60‑day framework is tied to wider U.S.‑Iran negotiations on nuclear and related issues.