Oman Offers Joint Regional Mechanism for Managing Strait of Hormuz

The United States, Iran, and Oman held talks to discuss managing the Strait of Hormuz, a crucial waterway for global oil trade.

Oman proposed a joint regional mechanism to manage the strait with voluntary fees, rather than mandatory tolls imposed by Tehran.

A Gulf source told Reuters that under the Omani proposal, Iran would not have exclusive control over the strategic waterway, and a joint supervisory body would monitor vessel traffic and coordinate with regional naval forces.

The U.N.'s International Maritime Organization has taken notice of the proposal, and an IMO spokesperson said any new shipping routes or traffic management measures should be submitted to the organization for consideration by member states.