Iran and Oman announced Wednesday that they have agreed on coordinates for a shipping route through the Strait of Hormuz and are finalizing a draft agreement for jointly managing the vital waterway. The deal comes as Tehran and Muscat negotiate terms for commercial vessels to transit the strait under new arrangements that could reshape control over one of the world's most strategic chokepoints.

According to Al Jazeera and The Guardian, the negotiations center on two key questions: who controls the Strait of Hormuz and whether Iran should be allowed to impose fees on commercial vessels passing through. Iran's foreign minister stated that talks are entering their "final stages" and that Tehran insists the waterway will never return to its pre-war status.

Dispute Follows US-Iran Conflict

The dispute over the strait began after escalating tensions between the United States, Israel, and Iran. Press TV reports that Iran is asserting sovereign determination to reshape regional security arrangements, despite what Tehran characterizes as persistent U.S. obstruction of the negotiation process.

Axios and other outlets note that the U.S. has been monitoring the Iran-Oman talks closely, with officials describing progress as "positive" but expressing concerns about Iran's long-term intentions for controlling maritime traffic through the narrow passage.

Strategic Implications for Global Energy Markets

The Strait of Hormuz serves as a critical transit route for approximately one-fifth of the world's oil supply. Any changes to its governance structure or the imposition of new transit fees could have significant implications for global energy markets and shipping costs.

According to multiple reports, vessels would be required to pay a passage fee under the proposed arrangement between Iran and Oman. The exact fee structure and enforcement mechanisms remain under negotiation as both countries work to finalize the deal's text.

The Guardian reports that Iran and Oman have been photographing vessels in the strait from Musandam, Oman, as they map out the agreed corridor. Regional analysts suggest that formalizing joint management could either stabilize transit through the waterway or introduce new friction depending on how enforcement and fee collection are handled.