Iran and Oman Reach Agreement on Strait of Hormuz Control Amid US Tensions

Iran has intensified its stance on the Strait of Hormuz, stating that its reopening depends on the United States accepting Tehran's conditions. Hossein Mohebbi, spokesperson for Iran's Islamic Revolutionary Guard Corps, announced that Iran and Oman have reached understandings regarding the division of control over the strait's waters and the revenues generated from it. However, he accused Washington of disrupting the process and warned that without US agreement, the strait will remain closed. Mohebbi emphasized that the strait is under Iranian control, with hostile military vessels kept at least 400 kilometers away, and no ship can pass without Iran's approval and management.

Negotiations between Iran and Oman have been ongoing for about a month, resulting in agreements on territorial waters and revenue sharing, though details on the revenue mechanism and division rates were not disclosed. Meanwhile, Oman's Foreign Minister Badr al-Busaidi offered a more cautious perspective, noting discussions on establishing a temporary navigation corridor and agreeing to mine clearance efforts to restore safe shipping soon.

The announcement comes amid a near halt in traffic through the strait due to the ongoing conflict and rivalry between Iran and the US over control of this vital shipping route. Concurrently, the US has escalated economic pressure on Tehran, with Treasury Secretary Janet Yellen expanding sanctions to cover five sectors including digital assets, gold, technology, aviation, and shipping, and imposing restrictions on around 60 individuals, companies, and vessels.

Iranian President Masoud Pezhkian rejected the US pressure, asserting that Washington will not achieve its goals through economic strangulation, just as it failed through military means. The conflict, which began on February 28 with US and Israeli strikes in Iran, is approaching six months. Prior to the war, about 20% of the world's oil and liquefied natural gas shipments passed through the Strait of Hormuz, but traffic has since dramatically decreased. While progress with Oman raises hopes for a limited reopening, Iran’s Revolutionary Guards’ renewed threats underscore the strait’s role as a key leverage point against the US.