Tehran; August 2026: Today (Friday – 07th August 2026; IST) Oman has agreed to the framework of a deal with Iran to temporarily reopen the Strait of Hormuz, the global crude oil export route that the US and Iran have been wrestling to control since the war began. Although the details of the temporary agreement or what issues remain unresolved. But an Iranian government official linked to the deal told media reporters that it will establish new shipping routes by allowing commercial vessels to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman.
The agreement, according to the Iranian official, does not include the collection of tolls from commercial shipping vessels seeking safe passage through the waterway, which Iran has previously sought. The proposal is a ‘temporary agreement’ that would lay the foundation for Washington and Tehran to call a new ceasefire and resume the nuclear negotiations that began in mid-June but collapsed after retaliatory strikes by both sides across the region. One of the attacks killed four American service members in Jordan.
The United Nations International Maritime Organization (IMO) and the US will be involved in the official announcement of the agreement, according to the Iranian official. Another Gulf government official with knowledge of the agreement has also reiterated that the arrangement has been endorsed by the members of the Gulf Cooperation Council. Officials have not said when the agreement would be announced.
Whether the United States would support the deal on how the strait is managed, will depend on the final details. A US official said that President Donald Trump will only support a temporary deal that reopens the strait with no impediments and no fees. “Any temporary routes will be without any impediments, meaning no approvals or permissions and no tolls or charges”, a US official, spoke on the condition of anonymity, while further asserting that “the Strait of Hormuz is an international waterway, and no party controls the lanes or the ability to transit through them”.
President Donald Trump has strong exceptions to any deal that would grant Iran more control over the strait. But the deal could pave the way for the US and Iran to resume negotiations over Iran’s nuclear program after a framework agreement that laid the ground rules for the talks collapsed in June this year (2026) following Iranian attacks on vessels in the waterway. The US President have at times suggested the US would collect fees from vessels seeking to transit the waterway but has not followed through on that plan.
While speaking to reporters today (Friday early morning IST) in the Oval Office, Trump said the strait is “sort of open right now”, adding that the US is enforcing a blockade. “I think we’re doing fine”, he said, later adding that an announcement on the strait “could be soon”.
The strait is a critical choke point through which about 20% of the world’s petroleum liquids must travel to reach the Arabian Sea, the gateway to the global market. Before the US and Israel’s February 28th joint strikes on Iran, the strait was considered an international shipping route that no country officially controlled. Iran swiftly launched retaliatory attacks on vessels in the waterway, which has become its strongest point of leverage.
Commercial shipping traffic has since ground to a halt, sending global oil prices soaring and putting downward pressure on the US economy ahead of November’s midterm elections.
Team Maverick.
