Report: Deal to reopen Strait of Hormuz may be announced as early as today

The US, Iran, and Oman are close to an interim agreement to reopen the Strait of Hormuz, according to a report by Barak Ravid in Axios, citing two regional sources and a US official. The deal is expected to last 60 days, with separate lanes in the territorial waters of Iran and Oman, no fees, and mine clearance within 30 days. Trump decided on Saturday not to attack at this stage to allow diplomacy.

The US, Iran, and Oman are nearing an interim agreement to reopen the Strait of Hormuz, and the American administration hopes to announce it as early as today (Wednesday), according to a report by Barak Ravid in Axios, citing two regional sources and a US official. According to the report, Iran's leadership completed the approval process for the agreement yesterday. The emerging deal is expected to last 60 days, with an option for extension. During this period, ships entering the Gulf will use a northern lane in Iran's territorial waters, while ships exiting toward the Arabian Sea will use a southern lane in Oman's territorial waters, in coordination with Tehran. No transit fees or tolls will be charged during this time. In parallel, the parties will work to clear naval mines from the central channel of the strait within 30 days. The agreement also aims to renew the ceasefire between the US and Iran and restart negotiations on a nuclear deal. It is expected to give Iran broader control over traffic in the Strait of Hormuz than it had before the war. According to the report, President Donald Trump decided on Saturday not to carry out his threats of a large-scale attack campaign against Iran at this stage, to allow more time for diplomatic efforts. However, if an agreement is not reached soon, he may authorize significant strikes. The White House has been actively involved in the talks, and in recent days several conversations have taken place between Trump's envoy Steve Witkoff, Iranian Foreign Minister Abbas Araghchi, and Oman's Foreign Minister Badr al-Busaidi. Officials from Qatar, Pakistan, and Saudi Arabia also participated in mediation efforts. Araghchi agreed in principle to the outline over the weekend, but it required approval from Iran's Supreme Leader Mojtaba Khamenei and the Supreme National Security Council. According to a US official and a regional source, Iran's leadership completed the approval process on Tuesday. However, the American administration is cautious: about three weeks ago, the White House, Oman, and the mediators believed an agreement with Iran had already been reached, but Tehran resumed attacks on vessels. This led to two weeks of fighting that brought the parties to the brink of all-out war.