Iran and Oman are proposing to establish a temporary corridor through the Strait of Hormuz

Iran and Oman have proposed creating a temporary shipping corridor about seven miles wide through the Strait of Hormuz to restore safe commercial navigation. The two countries also plan to jointly clear mines from the area.

The phased plan was discussed by Omani Foreign Minister Badr Al Busaidi and Iranian Foreign Minister Abbas Araghchi during talks in Tehran. In addition to the temporary corridor, the two sides plan to agree on a permanent route, vessel traffic management, information sharing and security arrangements.

Vessels travelling from the Gulf of Oman to the Persian Gulf would pass through Iranian territorial waters. In the opposite direction, the route is expected to run through the waters of both Iran and Oman.

Negotiations on a permanent route could continue for another 30–60 days. However, the agreement does not yet mean the full reopening of the Strait of Hormuz, with the temporary scheme expected to serve as the first stage in restoring shipping.

The prospect of restoring traffic through one of the world’s key shipping routes is already affecting commodity markets. Oil prices continued to decline on August 27 amid expectations that the Iran-Oman agreement could ease shipping restrictions through the Strait of Hormuz.

Tags: Iran, Oman, Hormuz