Iran working to finalize Hormuz agreement with Oman

Iran said Monday it is working to finalize a joint statement with Oman on a plan to manage the transit of ships through the Strait of Hormuz. Fully reopening the waterway to commercial shipping has been a key demand of the United States, but it remains unclear whether the deal will meet Washington's criteria.

The announcement came as the 60-day negotiating period to find a peace deal between the U.S. and Iran was expiring, with no word of an extension and both sides seemingly as far apart as they were two months ago.

Iranian Foreign Affairs spokesperson Esmail Baghaei told reporters in Tehran that “an understanding has been reached regarding the map of the transit route.”

He did not elaborate, but details that have previously emerged suggest the deal would reopen the strait with ships entering through a route close to Iran and exiting through a route close to Oman. Ships would transit without paying fees or tolls during the interim period.

The U.S. has sought an acceptable deal on opening the strait before ending its blockade of Iranian ports and it was not clear whether this would meet Washington’s expectations.

Iran effectively closed the strait — through which roughly one-fifth of the world’s traded oil supplies passed before the war — after Israel and the U.S. attacked the country on Feb. 28.

Baghaei conceded the talks with Oman have gone slowly, “but we had planned, and still plan, to finalize the understanding in the form of a package: the map plus a joint statement.”

His comments came as a 60-day deadline for finding an agreement to end the war expired, with no signs of a deal between the U.S. and Iran.