Iran, Oman Agree to Share Strait of Hormuz Revenue
Iran’s military said it reached a revenue-sharing agreement with Oman on the Strait of Hormuz, as Tehran and Washington’s standoff over control of the crucial waterway continues.
Luojiashan tanker sits anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 7, 2026. REUTERS/Benoit Tessier

DUBAI, Aug 5 (Reuters) – Iran and Oman have reached an understanding on the geographic coordinates for a shipping route through the Strait of Hormuz, and a joint announcement is being finalized, provided certain third parties did not interfere, Iran’s Foreign Ministry spokesperson Esmaeil Baghaei said on Wednesday.
Baghaei added that any such agreement between Iran and Oman would not, by itself, guarantee security in the strategic waterway.
The proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials told Reuters on Wednesday, in one of the biggest concessions yet to Iran.
Despite the apparent step towards yielding to Iranian demands, the sources pushed back against assertions by U.S. President Donald Trump that a deal reopening the strait was imminent, saying important details still had to be agreed.
Iran’s Foreign Ministry spokesperson Esmaeil Baghaei described the negotiations between Tehran and Muscat as “professional” and “moving forward,” saying “the two sides had reached a mutual understanding on the geographical parameters of the route under discussion.”
Baghaei added that, if some third parties do not obstruct the process, the joint statement between the two countries, containing the main considerations and key points of understanding, was in the final stages of review and drafting.
(Reporting by Elwely Elwelly and Menna Ala El DinEditing by Ros Russell and Alison Williams)
(c) Copyright Thomson Reuters 2026.This article contains reporting from Reuters, published under license.
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