Iran is seeking to prohibit US and Israeli vessels from transiting the Strait of Hormuz under a proposed agreement with Oman that aims to reopen the waterway to commercial shipping.
Local media reports indicate the draft deal would also require compensation from countries Iran deems hostile before they are permitted to use the route, alongside a ban on cargo related to Israel and a new fee structure covering insurance and environmental costs.
The proposal introduces significant geopolitical friction into what was framed as a technical normalization of trade routes.
While the agreement is described as being in its final stages, the explicit exclusion of US and Israeli interests suggests Tehran intends to retain leverage over the corridor even as it moves to restore commercial flow.
This contrasts with earlier signals that the reopening would be broadly inclusive, raising questions about the practical scope of the transit rights being offered to global shippers.
Markets have been closely watching the Strait of Hormuz negotiations, which follow a period of heightened tension and shipping disruptions in the region.