Strait of Hormuz Talks Stall Between Iran and Oman Amid Ongoing War

The Strait of Hormuz is a vital waterway that handles one-fifth of global oil and liquefied natural gas shipments. Iran and Oman have been in on-and-off talks for weeks about controlling traffic through the strait, which has been shut down due to the war between Tehran and Washington.

A senior Iranian source said no final agreement has been reached on the Strait of Hormuz, contradicting claims by Iran's Revolutionary Guards that the two countries had agreed how to share the waterway and its revenues. The IRGC spokesperson echoed Tehran's official stance, saying the strait would not open unless the US met Iran's conditions under an interim ceasefire agreement.

The conditions include an end to the US blockade on Iranian ports, compensation, and removal of sanctions. Omani Foreign Minister Badr Albusaidi said he was 'hopeful we will soon announce a temporary corridor for the Strait of Hormuz and practical arrangements to restore safe navigation' following talks with Iran.

The US has threatened to punish countries that continue to do business with Iran, but Secretary of State Marco Rubio told allies that the US did not expect to launch new strikes against Iran for now.