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🇮🇩 Indonesia /Economy & Trade

Iran and Oman agree on Strait of Hormuz shipping route

From Republika · () Indonesian

Translated from Indonesian and summarized by DistantNews. Read the original for the full story.

At a glance

News From a news agency New plan
  • Iran and Oman have agreed on a shipping route through the Strait of Hormuz, with Iran indicating it will reopen the vital waterway if the US meets its commitments.
  • President Pezeshkian stated that Iran's Supreme National Security Council reached a consensus on the agreement, with 12 out of 13 members voting in favor.
  • The deal hinges on the US fulfilling commitments related to sanctions relief, asset release, investment, and ending the war in Lebanon, with Iran's imports and exports having previously seen significant declines due to sanctions.

Iran and Oman have reached an agreement on a shipping route through the strategically crucial Strait of Hormuz, according to Iranian President Masoud Pezeshkian. Speaking on Friday, August 28, 2026, Pezeshkian indicated that Tehran is prepared to reopen the strait, a vital chokepoint for global oil transport, provided that the United States adheres to its commitments under the Islamabad Memorandum signed in June.

We have agreed on a shipping route through Hormuz with Oman, and if the US fulfills its commitments under the memorandum of understanding, we will open the strait.

— Masoud PezeshkianStating the condition for reopening the Strait of Hormuz.

President Pezeshkian revealed that the plan has been presented to Iran's Supreme Leader and that the nation's Supreme National Security Council has achieved a significant consensus, with 12 out of 13 members endorsing the agreement. He emphasized that the reopening of the Strait of Hormuz is contingent upon the US fulfilling several key promises, including the lifting of sanctions and blockades, the release of frozen assets, the initiation of investments, and the cessation of conflict in Lebanon.

Currently, we are following up on the matter. If the US fulfills its commitments regarding the lifting of sanctions and blockades, the release of assets, the commencement of investment, and the end of the war in Lebanon, we will also open the Strait of Hormuz.

— Masoud PezeshkianDetailing the specific US commitments required.

Pezeshkian further elaborated that negotiations regarding the release of Iran's frozen funds have commenced, and plans for investments totaling $300 billion are in preparation. He noted that Iran's import and export volumes had previously decreased by 25% to 35% due to sanctions. According to Pezeshkian, sanctions in the banking and petrochemical sectors have been lifted as per the memorandum, enabling Iran to export nearly 90 million barrels of oil during the agreement's term. He also mentioned ongoing discussions with Qatar and the United Arab Emirates regarding investment plans, though these projects are reportedly stalled due to ongoing conflicts. Iran's objective, he stated, is to restore the Strait of Hormuz to its previous status, a goal that was previously unmet due to non-compliance with the memorandum.

As far as the talks have progressed, the US side also acknowledges that we must return to the memorandum of understanding.

— Masoud PezeshkianIndicating US acknowledgment of the agreement.
About this summary

Originally published by Republika in Indonesian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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