Iran and Oman agree on Hormuz maritime route; Trump sees potential deal this week

Iran and Oman have reached an agreement on the geographical coordinates for a new maritime route through the Strait of Hormuz, signaling progress in managing transit through the critical waterway amidst heightened regional tensions.

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The geographical layout of the route planned by both parties has been agreed upon.

Esmail Baqai, spokesperson for Iran's Ministry of Foreign Affairs, stated that the "geographical layout of the route planned by both parties has been agreed upon." He added that both countries are finalizing a joint declaration, though its announcement depends on "third parties not hindering the process." Baqai indicated that consultations on the maritime corridor have been ongoing for at least two months, covering technical, legal, security, and environmental aspects.

This understanding, if finalized, could reshape operations in one of the world's most sensitive shipping lanes, which previously saw nearly a fifth of global oil and liquefied natural gas traded. Iranian sources suggest the proposed scheme involves ships entering the Persian Gulf via a corridor supervised by Iran and exiting through one managed by Oman. The plan reportedly includes fees for security and environmental protection, seen as a significant concession to Tehran since the conflict began.

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third parties not hindering the process

However, Baqai cautioned that even a formal agreement might not guarantee the strait's security, citing "the United States, in particular the naval blockade and other aggressive actions" as persistent risks. Since the conflict's onset on February 28, Iran has asserted de facto control over the passage following threats and attacks on shipping, which drastically reduced vessel traffic and caused oil price spikes.

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The factors that make the Strait of Hormuz insecure still exist on the part of the United States, in particular the naval blockade and other aggressive actions.

Concurrently, U.S. President Donald Trump expressed optimism, telling reporters that an agreement could materialize "very soon," possibly "tomorrow or the day after." He noted that "a lot of progress has been made." However, sources close to the negotiations have tempered this optimism, highlighting persistent key differences, particularly regarding Iran's role in transit control, which the Trump administration has publicly opposed.

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Very soon.