Iran and Oman have reached an agreement on the geographic coordinates for a shipping route through the Strait of Hormuz, according to Iran's Foreign Ministry spokesperson Esmaeil Baghaei.
The announcement, made on August 5, signals a move toward formalizing the management of the critical waterway between the two nations.
Multiple wire services, including TASS and Channel NewsAsia, have reported on the agreement.
The development comes as shipping traffic through the Strait of Hormuz and the nearby Bab el-Mandeb strait has plummeted to just three vessels amid escalating Houthi attacks.
The near-total collapse of commercial transit has heightened fears of a prolonged disruption to global energy flows, with Brent crude prices remaining sensitive to any news regarding route security.
Multiple wire services, including TASS and Channel NewsAsia, have reported on the agreement.
While the deal establishes a framework for joint management, it remains unclear how quickly commercial traffic will resume or whether the arrangement will be recognized by other key maritime stakeholders.