Status: Developing; negotiations have advanced, but no final agreement has been announced
Date: August 5, 2026
DUBAI/RIYADH — Iran could gain a formal role in managing commercial vessels entering the Gulf under a proposed arrangement being negotiated with Oman to restore shipping through the Strait of Hormuz.
People familiar with the discussions said the draft framework would direct inbound and outbound commercial vessels through Iranian territorial waters. Tehran says fundamental understandings have been reached, but questions remain about inspections, supervision, navigation fees and the extent of Iran’s authority.
Gulf negotiators are reportedly seeking regional oversight of any vessel inspections and want possible service fees to remain voluntary. The United States has not publicly accepted the proposal and has previously opposed giving Iran control over access to the waterway.
Iranian officials also said messages received from Washington indicated a willingness to return to commitments made under a mid-June memorandum calling for an end to military operations. However, Tehran maintains that it has not recently held direct negotiations with the United States.
Why it matters: Before the conflict, approximately one-fifth of globally traded oil and liquefied natural gas passed through Hormuz. Reopening the passage could ease fuel prices and shipping costs, but granting Iran a management role would represent a major change in the Gulf’s strategic balance.
