Kathmandu— Iranian Foreign Minister Abbas Araghchi announced on Sunday that talks with Oman over the management of the Strait of Hormuz are in their final stages. The discussions come amid a shift in US strategy towards Iran, following President Donald Trump's decision to defer planned military strikes against Tehran.

US and Israel Postpone Military Strikes

US President Donald Trump announced on Saturday that the United States and Israel had agreed to postpone any military strikes on Iranian targets. This decision was made after intense diplomatic engagements, including a conversation with Saudi Arabia's Crown Prince Mohammed bin Salman.

Strait of Hormuz at Core of Diplomatic Efforts

The Strait of Hormuz remains central to the ongoing negotiations between Iran and Oman. The waterway is crucial for global oil and gas transport, but tensions have escalated due to Iran's demands for oversight and transit tolls.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei told state television that an agreement with Oman would respect both sides' sovereign rights while safeguarding national interests and security. However, he emphasized that such an understanding does not automatically mean the full reopening of the strategic waterway.

Impact on Global Oil Trade

Maritime intelligence firm Kpler reported a sharp decline in vessel movement through the Strait of Hormuz last week. This development underscores the potential economic implications of any disruption to the vital shipping lane, which is critical for global energy supplies.

The status of negotiations and future developments remain uncertain as both sides continue discussions.

(With inputs from ANI)

Originally published on abcnews.com.np.