Iran, Oman Still Negotiating Control Over Vital Strait of Hormuz

The Strait of Hormuz is one of the most critical waterways in the world, handling nearly one-fifth of global oil and liquefied natural gas shipments. Iran and Oman have been negotiating an agreement to control traffic through the strait.

A senior Iranian source confirmed that no final agreement has been reached on the Strait of Hormuz, despite claims from Iran's Revolutionary Guards that a deal was close.

Hossein Mohebbi, a spokesperson for the IRGC, said that agreements have been reached regarding the share of each country in the waters and revenues. However, it is unclear what stage these negotiations are at.