Iran, Oman Agree to Temporary Strait of Hormuz Deal
Foreign Policy
Foreign Policy
Original Source
Iran and Oman reached a revenue-sharing agreement on the Strait of Hormuz, with Tehran threatening to keep the critical waterway closed unless Washington accepts its terms. The deal comes amid escalating tensions over control of the world's most vital shipping corridor for oil and gas transport.
Iran Accuses U.S. of Obstructing Progress in a Strait of Hormuz Deal
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Iran, Oman Agree to Temporary Strait of Hormuz Deal
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Iran, Oman Agree to Temporary Strait of Hormuz Deal
Tehran vows to keep the waterway closed if Washington does not accept its terms.
!An illustration of Alexandra Sharp, World Brief newsletter writer
*An illustration of Alexandra Sharp, World Brief newsletter writer*
*Alexandra Sharp*
By **Alexandra Sharp**, the World Brief writer at *Foreign Policy*.
!Several ships are anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran.
*Several ships are anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran.*
Ships are anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran, on Aug. 10. Ali Saeedi/Getty Images
*
*
August 26, 2026, 4:48 PM
Iran War
Analysis and news.
Welcome back to World Brief, where we’re looking at an **Iranian-Omani** proposal for the **Strait of Hormuz**, deadly flash flooding in **Nepal** and **Tibet**, and rising **Israeli** extremist violence against **Palestinians** in the West Bank.
---
**Tehran’s Demands for Hormuz**
Iran and Oman reached a revenue-sharing agreement on the Strait of Hormuz on Wednesday, with Muscat saying it is “hopeful” that the deal will be formalized soon. Meanwhile, Tehran warned that the critical waterway will remain closed if the United States fails to accept the proposal’s terms. “The U.S. is obstructing this process, causing progress to be delayed,” said Hossein Mohebbi, a spokesperson for Iran’s Islamic Revolutionary Guard Corps.
Welcome back to World Brief, where we’re looking at an **Iranian-Omani** proposal for the **Strait of Hormuz**, deadly flash flooding in **Nepal** and **Tibet**, and rising **Israeli** extremist violence against **Palestinians** in the West Bank.
Sign up to receive World Brief in your inbox every weekday.
---
**Tehran’s Demands for Hormuz**
Iran and Oman reached a revenue-sharing agreement on the Strait of Hormuz on Wednesday, with Muscat saying it is “hopeful” that the deal will be formalized soon. Meanwhile, Tehran warned that the critical waterway will remain closed if the United States fails to accept the proposal’s terms. “The U.S. is obstructing this process, causing progress to be delayed,” said Hossein Mohebbi, a spokesperson for Iran’s Islamic Revolutionary Guard Corps.
The announcement goes further than the joint Iranian-Omani statement issued Tuesday that spoke of a “phased framework” for resuming shipping transits through the thoroughfare. Although the initial declaration had proposed a “joint temporary navigational corridor” and bilateral efforts to clear sea mines in the strait, it stopped short of unveiling any formal deal or mentioning the possibility of charging tolls—a key demand of Tehran’s.
Global oil prices dipped on Wednesday in response to the news. Both Brent crude and West Texas Intermediate dropped more than $2 per barrel from Tuesday’s highs of roughly $88 and $82, respectively.
But U.S. President Donald Trump does not appear eager to accept the Iran-Oman proposal. In an interview with conservative radio host Glenn Beck on Wednesday, Trump insisted that the strait was already open, undermining Tehran’s threat that it will keep the waterway blocked if Washington does not concede.
“We take a lot of ships through the strait now. We’re taking them in,” Trump said. “Every once in a while, there’ll be a drone or a rocket or something shot, but it is a very functioning strait. A lot of oil is pouring out.”
Only 14 vessels were in the Strait of Hormuz at time of writing on Wednesday, according to TankerMap, which tracks oil and natural gas tanker traffic. Before the war began, an average of roughly 130 ships passed through the waterway daily to transport roughly one-fifth of the world’s oil and natural gas supplies. Part of the reduction is due to fears about the continued presence of sea mines in the area, which “no one except Iran knows the location of,” Iranian Deputy Foreign Minister Kazem Gharibabadi maintained on Wednesday. He went on to dismiss Trump’s claims that all the mines have been cleared.
The Iran-Oman proposal comes just two days after the Trump administration unveiled Operation Economic Outcast, which threatens to impose so-called secondary sanctions on all countries that continue to do business with Tehran. At the time, U.S. Treasury Secretary Scott Bessent insisted that the White House is “giving everyone the opportunity to remedy bad behavior” before these sanctions take effect. However, Iran and its top trading partner, China, have already vowed to resist Trump’s economic warfare.
“When a bully declares that every bank, company, port, and government must choose between obeying Washington’s whims or facing American vengeance, this is no longer just about Iran,” Iranian Foreign Ministry spokesperson Esmail Baghaei wrote on X on Tuesday.
---
**Today’s Most Read**
* **Washington Is Creating Forever Enemies***by Adam Weinstein*
* **Everything You Always Wanted to Know About IR Grad School***by Stephen M. Walt*
* **What Donald Duck Can Teach Trump About Going to War***by Julian E. Zelizer*
---
**What We’re Following**
**Rising death toll.** Flash flooding in Nepal and the Chinese territory of Tibet killed at least 157 people on Wednesday and left hundreds of others missing, including more than 340 foreign tourists. The exact
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Iran, Oman Agree to Temporary Strait of Hormuz Deal
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Iran, Oman Agree to Temporary Strait of Hormuz Deal
Tehran vows to keep the waterway closed if Washington does not accept its terms.
!An illustration of Alexandra Sharp, World Brief newsletter writer
*An illustration of Alexandra Sharp, World Brief newsletter writer*
*Alexandra Sharp*
By **Alexandra Sharp**, the World Brief writer at *Foreign Policy*.
!Several ships are anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran.
*Several ships are anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran.*
Ships are anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran, on Aug. 10. Ali Saeedi/Getty Images
*
*
August 26, 2026, 4:48 PM
Iran War
Analysis and news.
Welcome back to World Brief, where we’re looking at an **Iranian-Omani** proposal for the **Strait of Hormuz**, deadly flash flooding in **Nepal** and **Tibet**, and rising **Israeli** extremist violence against **Palestinians** in the West Bank.
---
**Tehran’s Demands for Hormuz**
Iran and Oman reached a revenue-sharing agreement on the Strait of Hormuz on Wednesday, with Muscat saying it is “hopeful” that the deal will be formalized soon. Meanwhile, Tehran warned that the critical waterway will remain closed if the United States fails to accept the proposal’s terms. “The U.S. is obstructing this process, causing progress to be delayed,” said Hossein Mohebbi, a spokesperson for Iran’s Islamic Revolutionary Guard Corps.
Welcome back to World Brief, where we’re looking at an **Iranian-Omani** proposal for the **Strait of Hormuz**, deadly flash flooding in **Nepal** and **Tibet**, and rising **Israeli** extremist violence against **Palestinians** in the West Bank.
Sign up to receive World Brief in your inbox every weekday.
---
**Tehran’s Demands for Hormuz**
Iran and Oman reached a revenue-sharing agreement on the Strait of Hormuz on Wednesday, with Muscat saying it is “hopeful” that the deal will be formalized soon. Meanwhile, Tehran warned that the critical waterway will remain closed if the United States fails to accept the proposal’s terms. “The U.S. is obstructing this process, causing progress to be delayed,” said Hossein Mohebbi, a spokesperson for Iran’s Islamic Revolutionary Guard Corps.
The announcement goes further than the joint Iranian-Omani statement issued Tuesday that spoke of a “phased framework” for resuming shipping transits through the thoroughfare. Although the initial declaration had proposed a “joint temporary navigational corridor” and bilateral efforts to clear sea mines in the strait, it stopped short of unveiling any formal deal or mentioning the possibility of charging tolls—a key demand of Tehran’s.
Global oil prices dipped on Wednesday in response to the news. Both Brent crude and West Texas Intermediate dropped more than $2 per barrel from Tuesday’s highs of roughly $88 and $82, respectively.
But U.S. President Donald Trump does not appear eager to accept the Iran-Oman proposal. In an interview with conservative radio host Glenn Beck on Wednesday, Trump insisted that the strait was already open, undermining Tehran’s threat that it will keep the waterway blocked if Washington does not concede.
“We take a lot of ships through the strait now. We’re taking them in,” Trump said. “Every once in a while, there’ll be a drone or a rocket or something shot, but it is a very functioning strait. A lot of oil is pouring out.”
Only 14 vessels were in the Strait of Hormuz at time of writing on Wednesday, according to TankerMap, which tracks oil and natural gas tanker traffic. Before the war began, an average of roughly 130 ships passed through the waterway daily to transport roughly one-fifth of the world’s oil and natural gas supplies. Part of the reduction is due to fears about the continued presence of sea mines in the area, which “no one except Iran knows the location of,” Iranian Deputy Foreign Minister Kazem Gharibabadi maintained on Wednesday. He went on to dismiss Trump’s claims that all the mines have been cleared.
The Iran-Oman proposal comes just two days after the Trump administration unveiled Operation Economic Outcast, which threatens to impose so-called secondary sanctions on all countries that continue to do business with Tehran. At the time, U.S. Treasury Secretary Scott Bessent insisted that the White House is “giving everyone the opportunity to remedy bad behavior” before these sanctions take effect. However, Iran and its top trading partner, China, have already vowed to resist Trump’s economic warfare.
“When a bully declares that every bank, company, port, and government must choose between obeying Washington’s whims or facing American vengeance, this is no longer just about Iran,” Iranian Foreign Ministry spokesperson Esmail Baghaei wrote on X on Tuesday.
---
**Today’s Most Read**
* **Washington Is Creating Forever Enemies***by Adam Weinstein*
* **Everything You Always Wanted to Know About IR Grad School***by Stephen M. Walt*
* **What Donald Duck Can Teach Trump About Going to War***by Julian E. Zelizer*
---
**What We’re Following**
**Rising death toll.** Flash flooding in Nepal and the Chinese territory of Tibet killed at least 157 people on Wednesday and left hundreds of others missing, including more than 340 foreign tourists. The exact
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Source: Foreign Policy
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