Iran and Oman discuss temporary Hormuz corridor
The plan would reopen a route that carries about one-fifth of global oil and liquefied natural gas exports, officials said.
- On Tuesday, Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr Albusaidi met in Tehran to agree on a phased framework establishing a joint temporary navigational corridor through the Strait of Hormuz and implementing a joint mine-clearing project.
- War erupted on February 28, 2026 after United States and Israeli attacks on Iran prompted Tehran to blockade the strait, leaving shipping largely paralyzed and disrupting global oil and liquefied natural gas exports that normally account for about one-fifth of worldwide trade.
- An oil tanker struck Monday off Oman's eastern coast about 9 nautical miles northeast of Ash Shishah disabled the ship's engine, illustrating the risks shipping faces as Iran periodically fires on vessels attempting transit to enforce its control.
- President Donald Trump threatened last week to bomb Oman if it 'gets in the way' of American reopening efforts, while Iranian officials insist full reopening requires the United States to lift its naval blockade, drop oil sanctions and unfreeze assets abroad.
- Treasury Secretary Scott Bessent announced sanctions earlier this week on nearly 60 Iran-linked entities as an 'economic onslaught,' prompting Iran to denounce the effort as 'gross lawlessness' and China to warn that cooperation 'should not be disrupted or undermined.
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News News - Baghdad/Arbilt pityed oil prices by about 2% during dealings today, Wednesday, continuing the losses of the previous session, owing to hopes that after the resumption of talks between Iran and the Sultanate of Oman on the management of the seaway, the Strait of Horms could be reopened. Brent's crude fell by $1.78 or 2% to $86.80 per barrel, while West Texas's median ore dropped by $1.49, or 1.8%, to $80.87, after the loss of the ores…
Iran, Oman agree on temporary joint shipping route in Strait of Hormuz
DUBAI - Iran and Oman on Tuesday discussed a proposal to establish a temporary joint shipping route through the Strait of Hormuz as well as a mission to clear mines from the key oil export corridor.
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