Iran Says Hormuz Deal Near, But Strait Won't Reopen Yet

Vessels near the Strait of Hormuz, as seen from Musandam, Oman, 6 August, 2026.

Iran said on Saturday that it was close to reaching an agreement with Oman on a new shipping route through the Strait of Hormuz, but stressed that the deal alone would not be enough to reopen the strategic waterway.

Iranian Foreign Minister Abbas Araqchi said Tehran and Muscat were "very close" to an agreement on a temporary route through the strait. However, he said reopening the waterway would depend on other conditions, including compensation from the United States.

The existing shipping traffic separation scheme through the strait was no longer acceptable to Tehran, Araqchi said. He added that Iran and Oman were discussing a temporary arrangement while technical and legal issues related to a permanent route were resolved.

A US official said on Friday that Washington expected Iran and Oman to reach an agreement soon, allowing commercial oil traffic through the waterway to resume.

The official said the United States would lift its blockade of Iranian ports once an agreement was announced to restore commercial shipping without impediments.

Iran's Revolutionary Guards, however, said reopening the Strait of Hormuz depended on Washington accepting Iran's conditions and was separate from the negotiations between Tehran and Muscat.

"Whenever the United States accepts Iran's conditions, the Strait of Hormuz will certainly be reopened," Guards spokesperson Hossein Mohebbi said, according to Iranian media.

The developments came as tensions continued to rise over shipping through the strategic waterway. The United Arab Emirates said on Saturday that Iran had attacked a vessel affiliated with its state oil company with a missile while it was transiting the Strait of Hormuz. No injuries were reported.

There was no immediate response from Iranian authorities to the UAE's allegation.

The Strait of Hormuz, between Iran and Oman, carried around a fifth of global oil and gas shipments before the conflict began. Disruptions to shipping through the waterway have contributed to a surge in energy prices and heightened concerns over global inflation.

The conflict began with US and Israeli attacks on Iran on February 28. Iran has since targeted US bases in Gulf states and Jordan, while shipping through the Strait of Hormuz has also come under attack.