Trump Says Strait of Hormuz Will Be Open 'Very Soon'

Summary

Bloomberg's Abeer Abu Omar reports on a potential interim deal for the Strait of Hormuz, mediated by Qatar. The draft agreement would establish separate inbound and outbound shipping lanes, involve Iran and Oman in demining, and impose no tolls for 60 days. President Trump indicated a development with Iran could come within 48 hours, and the goal is to reopen commercial shipping and moderate energy prices.

• A short-term deal on the Strait of Hormuz is reported as imminent, possibly later today.
• Details from Axios include inbound vessels using a northern lane near Iran, outbound vessels using Omani waters.
• No tolls or fees would be charged over the next 60 days under the draft agreement.
• Iran and Oman would work to clear mines from a shipping lane for two-way traffic.
• Iran has softened its stance on allowing European nations to help demine, a shift from a month ago.
• President Trump said a development with Iran could happen within 48 hours and that the strait will be open soon.
• The interim deal is focused on the strait, with the nuclear component set aside for now.
• The reopening aims to normalize commercial shipping and moderate energy prices.