Iran and Oman Announce Agreement Reached on Strait of Hormuz Shipping Route Coordinates; Joint Statement in Final Drafting Stage

Iran announced on August 5 that it has reached an agreement with Oman on the geographic coordinates of a proposed shipping route through the Strait of Hormuz, with a joint statement under review and in the final drafting stage, Iranian foreign ministry spokesman Esmail Baghaei told reporters Wednesday. Negotiations between Tehran and Muscat are forward-moving and a deal would be struck if certain third parties do not obstruct this process, Baghaei said, though he clarified that any Iran-Oman agreement does not by itself guarantee security in the strategic waterway. The announcement builds on days of discussion about a management plan for the strait, which has emerged as the focal point of the US-Iran conflict and disrupted global energy supplies. Iranian state media earlier played down the outcome, citing a person familiar with the matter as saying an agreement between Tehran and Muscat would not necessarily mean the strait would open immediately. President Donald Trump said a deal to reopen the Strait of Hormuz could happen as early as Wednesday, while Treasury Secretary Scott Bessent said there is a chance we may have a deal today or tomorrow. Axios reported that the US, Iran and Oman are close to a 60-day interim agreement to reopen the waterway without tolls. The proposed agreement is intended to restore the June 17 ceasefire between Washington and Tehran, resolve disputes over shipping through the waterway through which one-fifth of the world's oil supplies had been shipped in peacetime, and create space for broader negotiations on Iran's nuclear program.