Kathmandu— Iran and Oman have agreed on specific maritime coordinates for vessel transit through the Strait of Hormuz, marking a significant step toward restoring traffic to the vital waterway. While the framework for the arrangement is nearly finalized, Iranian officials have cautioned that a full reopening of the strait remains contingent on the United States honoring commitments made in a June memorandum of understanding and addressing long-standing grievances regarding sanctions and frozen assets.

Framework for Maritime Transit

Under the proposed arrangement, inbound vessel traffic is slated to pass through a northern lane within Iranian territorial waters, while outbound traffic will utilize a southern lane in Omani waters, coordinated with Tehran. Hassan Qashqavi, spokesperson for the national security commission of Iran’s parliament, confirmed that the framework has been agreed upon and a deal could be expected soon, pending approval from higher levels of government.

Reports suggest the interim agreement may be set for an initial 60-day period with the possibility of extension. Discussions have also reportedly touched upon the clearance of naval mines from a central corridor, the passage of military vessels, and the potential implementation of a coordinated fee system for ships transiting the area.

Geopolitical Tensions and US Relations

Despite the progress with Oman, Iranian leadership remains firm that the ultimate resolution of the strait's status is tied to broader diplomatic concessions from Washington. Foreign Minister Abbas Araghchi stated that the agreement with Oman is "very close," but noted that a full reopening depends on the US staying true to commitments from a June memorandum of understanding that Tehran claims were violated.

Hossein Mohebbi, a spokesperson for the Islamic Revolutionary Guard Corps (IRGC), emphasized that the reopening of the strait involves a specific mechanism independent of the Oman negotiations. He stated that the US will have no choice but to accede to conditions set by Iran, noting that the IRGC views the waterway as a source of power tied to Iran's geographical position. Mohebbi further urged the administration of President Donald Trump not to interfere in the talks with Oman.

Regional Security and Market Reactions

The push for a diplomatic arrangement comes amid continued maritime volatility. The United Arab Emirates reported that a vessel belonging to the Abu Dhabi National Oil Company was targeted by a missile while crossing the strait on Saturday, though no casualties were reported. The UAE Ministry of Foreign Affairs characterized such targeting of commercial shipping as "acts of piracy" and a threat to global energy security.

Global energy markets have responded favorably to the prospect of a diplomatic breakthrough, with Brent crude trading at approximately $83 per barrel. In Iran, the national currency showed signs of recovery, strengthening to 1.85 million rials against the US dollar, while the Tehran Stock Exchange saw its main index climb by over 2 percent.

While military activity in the region has decreased to facilitate the Oman talks, tensions remain high as the international community awaits a formal joint statement and a resolution to the broader issues of sanctions and nuclear programming.

(With inputs from Al Jazeera)

Originally published on abcnews.com.np.