Iran Says Hormuz Deal With Oman Is Close

Summary

Bloomberg's Onur Ant explains that Iran and Oman are close to registering a temporary safe transit route in the Strait of Hormuz with the International Maritime Organization. He says this is not the broader agreement needed to resume normal shipping, which Iran says requires US sanctions relief and an end to the naval blockade. The US appears more open to Iranian influence over the waterway than before the war. The market implication is mostly about uncertain Hormuz shipping access rather than full normalization.

• Iran and Oman may register a temporary safe route in the Strait of Hormuz with the IMO within days.
• The route would serve as a transit point for some ships but is not a final grand reopening.
• Iran says full shipping resumption requires lifting the US naval blockade and sanctions and ending the war against Iran-backed groups.
• Onur Ant says the US is less opposed to Iranian influence over Hormuz than it was before the war.
• Hormuz was free and open before the war and closed after the US-Israeli campaign failed.
• Both sides are seeking a compromise, but pre-war free access is unlikely to return.