Archive · 5 Aug 2026
US Nears Interim Iran-Oman Deal to Reopen Strait of Hormuz
The Strait of Hormuz is a narrow waterway where ships carry a lot of the world's oil and gas.
Recently, the United States and Iran were close to a big fight, so the waterway became unsafe for ships.
World leaders have been talking to make it safe again.
President Trump said a deal could be announced very soon, maybe in a day or two.
The plan is a 60-day agreement between the United States, Iran, and a country called Oman.
Ships going in would use a lane near Iran, and ships going out would use a lane near Oman.
Nobody would have to pay tolls, and workers would clear underwater mines from a middle lane.
This would help keep oil prices from going too high and stop the fighting from starting again.
Some people are worried because an earlier peace deal broke down in less than a month.
Countries like Qatar, Pakistan, and Saudi Arabia are helping both sides talk.
US President Donald Trump said a Strait of Hormuz deal could be announced “tomorrow or the next day,” saying talks with Iran are “moving along very nicely.”
Axios reported the US, Iran and Oman are preparing to announce a 60-day shipping agreement as early as Wednesday, citing regional sources and a US official.
Under the proposal, inbound vessels would use a northern lane in Iranian waters, outbound traffic a southern lane in Omani waters, with no tolls or fees.
The interim deal is intended to restore the US-Iran ceasefire that collapsed last month after the 14-point Memorandum of Understanding fell apart.
Trump held off on Saturday on strikes he called the largest since World War II, but warned that if no deal is reached, “it’s going to be too bad.”
- Who
- US President Donald Trump plus the US, Iran and Oman are the main parties, with Qatar, Pakistan and Saudi Arabia in mediation roles. US Special Envoy Steve Witkoff spoke with Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr al-Busaidi, and Iran’s Supreme Leader Mojtaba Khamenei approved the arrangement; Trump also discussed de-escalation with Qatar’s Emir Sheikh Tamim Bin Hamad Al-Thani, and the White House remains actively involved.
- What
- An interim 60-day agreement to reopen the Strait of Hormuz to shipping, restore the collapsed US-Iran ceasefire and allow broader negotiations to resume, including on Iran's nuclear programme.
- When
- The announcement could come as early as Wednesday; Trump said on Tuesday night that a deal could happen “tomorrow or the next day.”
- Where
- The Strait of Hormuz, with negotiations involving Washington, Tehran, Muscat and Gulf capitals; Trump made his remarks in Los Angeles.
- Why
- To reopen a waterway handling about 20% of the world's oil and liquefied natural gas shipments, ease pressure on energy markets and prevent renewed fighting after the previous US-Iran ceasefire collapsed.
Diplomatic Path
Military Pressure
How to resolve the Hormuz crisis
Diplomatic Path
A short-term interim deal can restore the ceasefire, normalize commercial shipping and ease oil prices; talks are moving “very nicely.”
Military Pressure
If an agreement is not reached soon, Trump has threatened major military action — “if they don’t make a deal, it’s going to be too bad.”
Durability of the agreement
Diplomatic Path
Iran’s leadership completed its approval process on Tuesday, bringing the parties close to a formal announcement and suggesting a deal is imminent.
Military Pressure
The previous US-Iran ceasefire lasted less than a month before collapsing over control of Hormuz, and Houthi threats to escalate attacks on shipping persist.
Iran’s stance on foreign mine-clearing
Diplomatic Path
Iran has publicly opposed allowing foreign involvement in clearing mines from the strait.
Military Pressure
In private meetings, Tehran has softened and is considering allowing European nations to remove mines, according to diplomats.
- Agreement
- 60-day interim arrangement between Oman and Iran, with possibility of extension
- Parties
- US, Iran and Oman; Qatar, Pakistan and Saudi Arabia also played mediation roles
- Shipping lanes
- Inbound via a northern lane in Iranian waters; outbound via a southern lane in Omani waters
- Tolls
- No tolls or transit fees during the 60-day period
- Mine clearing
- Naval mines to be cleared from the median lane within 30 days
- Oil markets
- Global benchmark crude down about 9% since the start of the week; Brent just over $80 a barrel
- Previous deal
- 14-point US-Iran Memorandum of Understanding collapsed last month
- Backdrop
- Trump scrapped planned large-scale strikes over the weekend and warned of major military action if no deal is reached
