Archive · 6 Aug 2026
US, Iran near interim deal to reopen Strait of Hormuz
The Strait of Hormuz is a narrow strip of water between Iran and Oman where many ships carry oil to the rest of the world.
For the past five months, a war between Iran and the United States and Israel has blocked most ships from using it.
This has made oil and shipping more expensive for everyone.
President Donald Trump says the two countries had 'very good discussions' and a deal could come very soon.
Iran and Oman have written a draft agreement about how ships can safely pass through.
The deal still needs approval from Iran's leader, Ayatollah Mojtaba Khamenei.
Some Iranian officials say the agreement might be delayed while the United States keeps threatening Iran.
Even while leaders talk, attacks on ships near Yemen and Saudi Arabia continue.
People all over the world are hoping the talks will open the waterway again so ships can sail safely and prices can go down.
President Donald Trump said all-day negotiations with Iran on Tuesday were 'very good discussions' and a deal to reopen the Strait of Hormuz could come 'tomorrow or the next day.'
Iranian and Omani negotiators have completed a draft agreement awaiting final approval from Iran's Supreme Leader Ayatollah Mojtaba Khamenei, according to regional officials cited by the Associated Press.
Axios reported the U.S. and Iran are closing in on an interim agreement to reopen the strait with Oman's involvement, with Washington aiming for an announcement on Wednesday.
Iranian state media said an agreement with Oman would be delayed 'as long as the United States continues to threaten Iran,' while Iran's foreign ministry said talks with Oman were in the 'final stage.'
Attacks continued despite diplomatic progress: Yemen's Houthis claimed a ballistic missile attack on a Saudi oil tanker near Yanbu, and an Indian-flagged ship sank off Yemen after being struck by an explosive-laden boat.
- Who
- U.S. President Donald Trump, Iranian and Omani negotiators, Iran's Supreme Leader Ayatollah Mojtaba Khamenei, and Qatar's Emir Sheikh Tamim bin Hamad Al Thani
- What
- Negotiations toward a deal to reopen the blockaded Strait of Hormuz and restore maritime traffic
- When
- Early August 2026, following all-day talks on Tuesday with a possible announcement as early as Wednesday
- Where
- Strait of Hormuz, with talks involving Washington, Tehran, Oman, and Qatar; related attacks occurred near Yemen and the Red Sea
- Why
- To restore shipping through the strait, which normally carries about a fifth of global oil and liquefied natural gas, and ease pressure on the global economy
U.S. and deal proponents
Iranian officials and state media
Prospects of the agreement
U.S. and deal proponents
Trump cites 'very good discussions' and says a deal could come 'tomorrow or the next day,' with Washington aiming for a Wednesday announcement.
Iranian officials and state media
Iranian state media says an agreement with Oman will be delayed 'as long as the United States continues to threaten Iran.'
Control and fees on the waterway
U.S. and deal proponents
Washington backs a temporary arrangement and has repeatedly opposed any deal allowing Iran to levy charges on international shipping.
Iranian officials and state media
Iran demands control over the strait it says should be shared with Oman, and rejected an Omani proposal for shared oversight and voluntary fees.
Threats versus diplomacy
U.S. and deal proponents
Trump warns Iran 'is going to get hit really hard' if it backs out and has repeatedly threatened massive strikes if no agreement is reached.
Iranian officials and state media
Iran says U.S. threats obstruct progress, and talks were earlier denied by Tehran even as Qatar and Washington cited progress.
- Status of talks
- Draft Iran-Oman agreement completed, awaiting approval from Iran's Supreme Leader
- U.S. position
- Trump threatens severe retaliation if Iran backs out; Washington opposes Iranian fees on shipping
- Iranian position
- Demands shared control of the strait with Oman; says deal delayed as long as U.S. threatens Iran
- Strait's global importance
- Carries about one-fifth of global oil and liquefied natural gas shipments
- Brent crude price
- Trading around $80 per barrel on Wednesday, below conflict peaks
- Seafarer casualties
- At least 17 deaths from 64 incidents in the strait since Feb 28, per the IMO
- Reported war toll
- Iran reports more than 3,400 deaths; the U.S. reports 18 military personnel dead
- Conflict start
- War launched by the U.S. and Israel against Iran on February 28
