Iran’s Supreme National Security Council is poised to approve a deal with the United States and Oman to reopen and jointly oversee the Strait of Hormuz, according to reports citing diplomatic sources.
The agreement, first reported by Axios, marks a potential turning point in efforts to de-escalate tensions that have disrupted global shipping routes through one of the world’s most vital energy chokepoints.
Despite the diplomatic momentum, a new attack on a cargo ship in the strait was reported earlier this week, underscoring the fragility of the situation.
The development follows comments from US Secretary of State Marco Rubio, who stated on Tuesday that progress had been made in negotiations and that Washington was “hoping” for an agreement.
Despite the diplomatic momentum, a new attack on a cargo ship in the strait was reported earlier this week, underscoring the fragility of the situation.
The Strait of Hormuz remains a critical artery for global oil and gas flows, with roughly a fifth of the world’s oil passing through the narrow waterway.
Prolonged disruptions have kept shipping insurance premiums elevated and freight rates volatile, particularly for tankers and bulk carriers operating in the Persian Gulf.