Oman Presented Regional Mechanism for Hormuz to Iran, Source Says

Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz, incorporating a system of voluntary fees. A Gulf source revealed to Reuters that the Omani plan aims to prevent Iran from exercising sole control over the vital waterway. The proposed model is based on the Strait of Malacca, where users voluntarily contribute to fund navigation, environmental protection, and search and rescue services. This initiative emerges as the US has suspended air strikes against Iran, fostering hopes for a diplomatic resolution that could allow shipping to resume unimpeded through the Strait of Hormuz. This crucial passage previously handled a fifth of global energy supplies before the recent conflict. President Donald Trump expressed optimism about "good talks" with Iran, suggesting a potential deal but warning that strikes would resume if negotiations faltered. Iran's Foreign Minister Abbas Araghchi has been actively engaged in discussions regarding the Strait of Hormuz. On Monday, he spoke with his Omani and Saudi counterparts. According to Iran's foreign ministry statement, Araghchi "emphasized the need to strengthen cooperation and advance joint diplomatic efforts to establish stability in the region, and lift the insecurity imposed on the Strait of Hormuz due to the aggressive actions of the United States."

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He emphasized the need to strengthen cooperation and advance joint diplomatic efforts to establish stability in the region, and lift the insecurity imposed on the Strait of Hormuz due to the aggressive actions of the United States.