Iran Says Hormuz Shipping Deal 'Close' Amid Conditions and Past Tensions

Iran and Oman are nearing an accord on a new shipping route through the strategically vital Strait of Hormuz, Iranian Foreign Minister Abbas Araghchi announced Saturday. However, Araghchi indicated that the agreement would come with conditions, including demands for compensation related to what Tehran claims are U.S. violations of a prior memorandum of understanding.

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These included compensation for what Tehran says were US violations of the Islamabad memorandum of understanding.

Mohammad Baqer Zolqadr, secretary of Iran's top national security body, further detailed other demands. These include an end to U.S. threats against Iran, a cessation of aggression towards Iran and its allies in Lebanon, Palestine, Yemen, and Iraq, the lifting of sanctions, and the release of Iranian assets. President Masoud Pezeshkian, described as a relative moderate, expressed optimism, stating that now is the opportune moment for an agreement, citing national cohesion and strength.

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There is cohesion, strength, and unity in the country, and as far as I know, Iran is considered victorious and powerful in this war.

Discussions between Iran and Oman involve a temporary shipping route while technical and legal aspects of a permanent solution are resolved. Oman has condemned repeated attacks on vessels transiting the strait, without directly assigning blame, and has described the negotiations with Iran as "positive and constructive." A U.S. official, speaking anonymously, indicated that Washington anticipates an agreement soon between the two nations, which border the strait, to allow for the resumption of normal oil traffic.

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Oman condemned what it described as repeated attacks on vessels while transiting the strait, without assigning blame, and said negotiations with Iran on arrangements for shipping through Hormuz were "positive and constructive."

This development follows recent tensions in the region. The United Arab Emirates (UAE) previously condemned an alleged Iranian attack on a carrier associated with its state oil company, ADNOC, as it passed through the Strait of Hormuz. The UAE Foreign Ministry labeled the incident "hostile" and accused Iran's Islamic Revolutionary Guard Corps of "acts of piracy" by targeting commercial shipping and using the waterway for economic pressure. No injuries were reported in that incident, and Iranian authorities had not immediately commented.

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Washington anticipated an agreement soon between Iran and Oman, which sit on either side of the strait, so that normal oil traffic could resume.