Iran and Oman agree on Hormuz transit revenue sharing

Oman and Iran have negotiated a temporary navigation corridor in the Strait of Hormuz, which Tehran has blocked since the war began in February, including revenue-sharing agreements for the strategic waterway. The deal, confirmed by Iranian Revolutionary Guards, establishes a route where ships entering the Gulf use Iranian waters and exiting vessels pass through Omani waters. However, full reopening remains conditioned on ending the war with the US and lifting the American blockade on Iranian ports. Washington opposes any toll imposition in the strait, through which a fifth of global hydrocarbons previously transited. The June 17 US-Iran ceasefire protocol, which included reopening the strait, has collapsed. Oman's foreign minister hopes to announce the corridor's practical details soon.