US, Iran, Oman near Hormuz deal to resume shipping
Updated 3 months ago3 new reports, including CNBC, CGTN.
The short version
The United States, Iran and Oman are close to a 60-day deal to reopen the Strait of Hormuz, a vital oil-shipping corridor. The agreement would allow shipping traffic to resume without tolls and could be announced as early as Wednesday.
US President Donald Trump said on August 5 that a deal to reopen the Strait of Hormuz could be reached as soon as August 6.1,3,5 Iranian Foreign Ministry spokesman Esmaïl Baghaï said Iran and Oman had agreed on the geographic coordinates of a new navigation route in the strait.6,7 Baghaï stated that both sides were in the final phase of drafting a joint statement on the agreement.6,7
A report cited by New York Post said the proposed 60-day deal would not include tolls for shipping.2 France 24 reported that Iran warned a joint declaration would only be finalized if "third parties" did not interfere, interpreted as a reference to the US.10 Trump made the remarks after traveling to Los Angeles for a Republican National Committee fundraising event on August 5.1
US stocks rose on August 5 as markets reacted to reports of progress on the Hormuz deal, according to Bloomberg.5 Le Figaro reported that Iran intends to establish a precedent of charging tolls for passage, which did not exist before the current conflict.9 The Independent reported that Trump threatened to jail "leakers" after reports surfaced about depleted US munitions used in Iran.11,12
The reports alleged a confrontation between Trump and US Defense Secretary Pete Hegseth over shortages of precision-guided munitions.8,11,12 Trump denied any confrontation with Hegseth in a Truth Social post following the reports.11,12
“It could happen. Tomorrow or the next day.”
“The coordinates of the proposed route have been agreed by both parties.”
Why it matters
This account was written from the 12 reports listed below, filed by 9 independent outlets, and checked against them line by line. It is not a copy of any one of them. Spotted an error? Tell us.
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