Iran and Oman are nearing a historic agreement to establish a new commercial navigation corridor through the Strait of Hormuz, but Iranian officials cautioned Thursday that the framework establishes a new traffic management system rather than an unconditional reopening of the strategic chokepoint.
The announcement follows months of economic disruption and military tension that severely restricted commercial transit through the narrow waterway, which ordinarily handles nearly one-fifth of global crude oil supplies. According to reports from Financial Times, diplomatic representatives from Muscat and Tehran have aligned on technical parameters to guide merchant vessels through designated maritime lanes.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei confirmed on Wednesday that both nations had reached an understanding regarding the geographical coordinates of the proposed shipping route. He noted that a joint statement outlining the interim parameters was undergoing final drafting and review.
"Negotiations between the two countries are professional and forward-moving," Baghaei stated during a press briefing, adding that a formal agreement could be finalized "if certain third parties do not obstruct this process".
The diplomatic momentum prompted optimistic declarations from Washington. U.S. President Donald Trump told reporters earlier in the week that a deal concerning the strait was imminent. Speak at a campaign event in Las Vegas on Wednesday night, Trump reiterated that progress was accelerating, stating, "We're talking, let's see what happens".
However, Iranian leaders quickly pushed back against assertions that the bilateral accord equates to a complete restoration of pre-war transit access. Iranian state news agency IRNA reported on Thursday that the proposed framework creates a distinct regulatory structure replacing the decades-old status quo of unrestricted freedom of navigation. Under the drafted mechanism, commercial vessels entering the Persian Gulf would travel primarily through Iranian territorial waters under active oversight, while outbound traffic would cross specific corridors shared with Omani waters.
Iranian Deputy Foreign Minister Kazem Gharibabadi told state media that the bilateral plan would establish a temporary transit corridor designed to operate for an initial period of two to four months. Gharibabadi stressed that Tehran intends to exercise active sovereignty over maritime traffic passing through its coastal waters.
"In order to exercise effective sovereignty in the Strait of Hormuz, which is now truly a strategic concern for us, we do not necessarily need to declare that ships must pass entirely through Iranian territorial waters," Gharibabadi explained in statements carried by the Financial Times.
Iranian lawmakers underscored that any broader reopening of the strait remains strictly linked to key security demands, including an immediate end to the U.S. naval blockade of Iranian commercial ports and the reinstatement of global oil export waivers.
Energy markets reacted swiftly to the conflicting signals from Washington and Tehran. International benchmark Brent crude rose by nearly four percent on Thursday to trade above $82 per barrel, reversing three consecutive sessions of price declines as traders reassessed the likelihood of immediate supply relief. Maritime intelligence groups, including the United Kingdom Maritime Trade Operations (UKMTO), advised commercial shipping operators to maintain high caution throughout the region while final terms remain pending.