Oman has submitted a proposal to Tehran for a collaborative regional framework to oversee navigation in the Strait of Hormuz, incorporating a system of voluntary transit fees.
The plan seeks to prevent Iran from exercising exclusive authority over the critical waterway, according to a Gulf source cited by Reuters.
The proposal represents a significant diplomatic shift in efforts to stabilize one of the world’s most vital energy chokepoints.
By introducing a multilateral management structure, Muscat aims to reduce the geopolitical leverage Tehran has historically wielded over global oil flows.
The voluntary fee component suggests an attempt to create a sustainable funding model for security and maintenance without imposing mandatory tariffs that could disrupt trade.
Markets have closely monitored developments in the Strait, where tensions have periodically spiked shipping insurance costs and freight rates.