US and Iran Near Interim Deal to Reopen Critical Strait Of Hormuz

The United States and Iran are on the verge of an interim deal brokered by Oman to reopen the Strait of Hormuz, with Washington targeting a Wednesday announcement to end a blockade on a maritime transit route that handles one-fifth of global energy shipments.

The proposed 60-day arrangement aims to reinstate a fragile ceasefire and reactivate broader diplomatic channels over Tehran's nuclear program following weeks of intense military escalation.

Framework of the Transit Deal

Under the terms of the emerging draft, inbound commercial vessels would route through a northern lane inside Iranian territorial waters, while outbound traffic would navigate a southern lane inside Omani waters coordinated with Tehran.

Transit would remain fee-free during the two-month period, during which joint operations would clear naval mines from the central channel to prepare for a permanent operational arrangement.

The framework yields significant tactical concessions to Tehran, granting the Iranian government enhanced authority over waterway traffic compared to its pre-war posture.

Diplomatic Push and Market Reaction

U.S. President Donald Trump confirmed the progress following extended negotiations on Tuesday, noting that talks were moving forward while reiterating military threats should diplomacy falter.

"They had an all-day negotiation," Trump said, adding that the passage "is going to be open very soon" while warning that "if they back out again, they are going to get hit really hard."

Energy markets reacted swiftly to the prospect of unblocking the maritime choke point, with crude oil prices sliding and Asian equity markets rising following record highs on Wall Street.

Obstacles and Approval Process

Diplomatic momentum accelerated after Iranian Foreign Minister Abbas Araghchi secured formal approval from Supreme Leader Mojtaba Khamenei and the Supreme National Security Council, following direct engagement with U.S. envoy Steve Witkoff and Omani diplomats.

Despite White House optimism, Iranian state media cited an informed source stating that final implementation could face delays "as long as the United States continues to threaten Iran."

Regional mediation involved Qatari, Pakistani, and Saudi officials, seeking to prevent a return to full-scale conflict after a prior truce collapsed three weeks ago into heavy military exchanges.