Oman's foreign ministry announced progress in talks with Iran over a new shipping route through the Strait of Hormuz . But Iran's officials warned: don't expect the strait to reopen soon.
Saturday,Oman and Iran said discussions were moving forward, yet no timeline for a deal is set. Iranian Foreign Minister Abbas Araghchi noted talks are close to wrapping up, but reopening depends on undisclosed conditions .
The Strait of Hormuz is crucial for oil and gas, with 20% of the world's supply flowing through. Since February, Iran has blocked it,coinciding with U.S. and Israeli military actions.
Recent talks focus on a new shipping route managed by Iran and Oman to restart traffic. Still,Araghchi insists reopening requires U.S . compensation for what Iran sees as past broken promises to de-escalate .
A Memorandum of Understanding (MoU) collapsed soon after signing,as hostilities resumed. Iranian security chief Mohammad Baqer Zolqadr says the strait stays closed until the U.S. meets six demands,including ending threats,lifting naval blockade, and releasing Iranian assets.
Yemen's Houthis maintain a blockade on Saudi ports since July 20, adding to maritime security woes. This week, U.S. President Trump hinted at an imminent deal,but VP JD Vance remains skeptical, saying much work is left.
Vance stated,"We're really in middle of the game here. This thing is not over." He mentioned using diplomatic, economic,and military strategies for U.S. He also claimed oil flow from Gulf would stay at pre-conflict levels, without specifics.
One sticking point: Iran's reported plan to charge fees on vessels in the strait. An Iranian official suggested 5% to 7% charges,but Vance dismissed this, saying Iran won't toll the strait.
Oman warned against attacks on shipping as the UAE reported an Iranian missile targeted a tanker linked to Adnoc . The UAE confirmed no casualties.
The UKMTO reported a ship hit by an unidentified projectile off Oman,causing a fire,later extinguished, with no injuries. It's unclear if it was same vessel the UAE mentioned.
