Iran and Oman have agreed on the geographic coordinates for a navigation route through the Strait of Hormuz, with a joint statement now in the final stages of review and drafting, Tehran's Foreign Ministry Spokesperson Esmaeil Baqaei said on Wednesday, 6 August. The development marks a significant step toward reopening a waterway that carries roughly 20 per cent of global petroleum and gas traffic.

What Has Been Agreed

According to Baqaei, Muscat and Tehran have already settled on the geographic coordinates for the navigation corridor, and the joint statement is being finalised. He added that the agreement would be ready 'provided no external party interferes with the process.' The statement, he said, would be 'based on main considerations and points agreed upon during the negotiations.'

Notably, there was no public confirmation from Oman about the status of the agreement as of Wednesday.

How the Proposed Corridor Would Work

Citing 'informed sources,' Iranian state-affiliated outlet Tasnim reported that the proposed arrangement would allow Iran to oversee inbound maritime traffic through an Iranian-controlled shipping lane, while maintaining visibility over outbound traffic and retaining authority to intervene when necessary for security and navigation purposes.

Earlier reports indicated that Muscat and Tehran had focused on replacing the existing separate northern and southern routes with a single intermediate corridor designed to balance the interests and security concerns of both coastal states. According to media reports, the entry route into the Gulf would run along the Iranian coast, while the exit would follow the Omani side.

Both countries would reportedly charge a service fee for facilitating transit — but not a toll, which is prohibited under international law and has been publicly opposed by US President Donald Trump.

The US Factor

The arrangement being shaped by Iran and Oman conspicuously bypasses Washington, with Tehran stating that no third country was involved in the negotiations. This comes despite US Treasury Secretary Scott Bessent saying on Tuesday that he expected the strait to open by Wednesday, following President Trump's own prediction that an opening was likely on Tuesday. Both those timelines passed without any reopening.

Background: Why the Strait Has Been Closed

The Strait of Hormuz has been largely closed to commercial shipping since February, when Israel and the United States conducted bombing operations against Iran. The closure has disrupted the flow of approximately 20 per cent of global petroleum and gas traffic, sending shockwaves through energy markets. This is among the most consequential maritime disruptions in recent decades, with the strait serving as the primary export artery for Gulf oil producers including Saudi Arabia, the UAE, Kuwait, and Iraq.

What Comes Next

The joint statement, once finalised, is expected to formalise the navigation corridor arrangement. However, the caveat from Baqaei — that external interference could delay the process — signals that geopolitical pressure remains a live variable. Energy markets and global shipping operators will be watching closely for an official announcement from both Tehran and Muscat in the days ahead.