Iran, Oman Agree on Hormuz Shipping Route, Await US Commitments

Iranian President Masoud Pezeshkian announced on Friday that Iran and Oman have reached an agreement on a shipping route through the Strait of Hormuz. However, he stressed that Tehran will only restore the waterway to normal operations if the United States fulfills its commitments under the Islamabad Memorandum of Understanding, signed in June.

Pezeshkian stated that the proposed route has been communicated to Iran’s Supreme Leader Mojtaba Khamenei. Tehran expects Washington to lift sanctions, end its blockade, release frozen Iranian assets, begin investment in Iran, and cease hostilities in Lebanon. He indicated that the U.S. had also expressed acceptance of returning to the memorandum's terms.

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

The Iranian president revealed that the Supreme National Security Council achieved an "exceptional" consensus on the agreement, with 12 out of 13 members voting in favor. He noted that sanctions and blockades were initially eased under the agreement, and discussions began regarding the release of frozen funds and plans for substantial investment. Iran had been working to restore the Strait of Hormuz to its previous status, but the process collapsed when Washington failed to uphold its end of the bargain.

Regional mediation efforts involving Oman, Pakistan, and Qatar have been ongoing as Tehran and Muscat negotiate arrangements for managing shipping through the strategic waterway. Iran has previously indicated that the proposed corridor would encompass both Iranian and Omani waters. These developments occur while shipping traffic through Hormuz remains significantly below normal levels, despite diplomatic initiatives aimed at ensuring safer passage and reviving the stalled U.S.-Iran understanding.

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