Iran and Oman Reach Revenue-Sharing Agreement on Strait of Hormuz — Bloomberg

According to Bloomberg, Iran's Islamic Revolutionary Guard Corps (IRGC) said on Wednesday that it has reached a revenue-sharing agreement with Oman regarding the Strait of Hormuz. The move comes amid escalating tensions between Tehran and Washington over control of the strategic waterway, through which about one-fifth of global oil shipments transit.

**New Shipping Lane and Revenue-Sharing Plan**

Under the agreement framework, the two sides plan to designate a new shipping lane in the Strait of Hormuz and jointly manage its operations. Specifically, vessels entering the Persian Gulf will use a route near Iran's coast, while outbound ships will take a passage closer to Oman's side. In return, transiting vessels will be subject to a "service fee," with the revenue split evenly between Iran and Oman. However, U.S. officials have disputed this account, stating that no temporary shipping lane requires Iran's approval and that no fees will be charged to passing vessels.

**Reopening of the Strait Remains Uncertain**

Despite progress in negotiations, obstacles remain to the full resumption of navigation through the strait. Iranian Foreign Minister Araghchi said talks have entered their final stage, but the ultimate reopening depends on whether other conditions are met, including the lifting of U.S. sanctions on Iranian ports. Previously, due to regional tensions, Tehran had effectively blocked the waterway. Oman's Foreign Ministry, meanwhile, warned that attacks on shipping activities could hinder the final agreement.

**Clear Divergence Between U.S. and Iranian Positions**

On the fee issue, Washington and Tehran remain at odds. Reuters previously cited Iranian officials saying Tehran seeks to charge vessels a fee equivalent to 5% to 7% of cargo value. U.S. President Donald Trump, however, has made clear that Iran will not be allowed to impose such fees, stating, "If anyone is going to charge, it will be us." This fundamental disagreement adds further uncertainty to the agreement's implementation.