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🇪🇬 Egypt /Economy & Trade

Iran says agreement with Oman on Strait of Hormuz shipping lane is imminent

From Egypt Independent · () English

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

At a glance

Newswire From a news agency New plan
  • Iran said negotiations with Oman on a safe, temporary commercial shipping lane through the Strait of Hormuz had reached their final stages.
  • Foreign Ministry spokesperson Ismail Baghaei said Tehran expected an agreement in the coming days and cited very good progress in the talks.
  • Shipping data showed an average of 10 commodity vessels crossed the strait over the past 10 days, the lowest level since May, after attacks on tankers.

Iran says its talks with Oman on creating a safe, temporary shipping lane through the Strait of Hormuz are entering their final stretch. Tehran expects an agreement in the coming days, even as commercial traffic through the strategic waterway has sharply declined.

Foreign Ministry spokesperson Ismail Baghaei said at his weekly press conference in Tehran that the negotiations had made “very good progress.” He also voiced hope that “third parties” would not intervene to block an agreement.

very good progress

· Ismail BaghaeiThe Iranian Foreign Ministry spokesperson described the progress of negotiations with Oman.

The proposed arrangement would organize a safe and temporary route for commercial vessels crossing the strait. Baghaei said the agreement could potentially be registered with the International Maritime Organization.

third parties

· Ismail BaghaeiBaghaei expressed hope that outside actors would not interfere with the agreement.

Shipping figures released on Monday showed the daily average of commodity vessels crossing the strait stood at 10 over the previous 10 days, the lowest level since May. Kpler data put the 10-day moving average at 10 vessels on Sunday, compared with more than 15 on Friday and about 13 on Saturday.

Only two ships crossed on Saturday and six on Sunday, most using the Iranian route. The vessels entering on Sunday included a very large crude carrier and three bulk carriers carrying minerals, grain or oilseeds. Data from the London Stock Exchange Group showed that a tanker loaded with refined petroleum products at a Saudi port tried to leave the strait but turned back. Kpler data also showed that no very large crude carriers had left the strait since Wednesday.

organize a safe and temporary route for commercial vessels through the strait

· Ismail BaghaeiHe explained the purpose of the anticipated agreement.
About this summary

Originally published by Egypt Independent in English. 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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