Iran seeks to bar US ships as Hormuz deal with Oman advances
SCMP · 2 SOURCESabout 2 hours ago2 MIN
Summary
Iran is pushing to ban US and Israeli vessels from the Strait of Hormuz and demand compensation from hostile nations as part of a proposed management deal with Oman, according to reports from Iran's semi-official Fars news agency . The agreement, now under review in Iran's parliament, has become central to hopes for reopening the crucial waterway and resuming energy flows disrupted since the US and Israel attacked Iran in February . A US official expressed optimism on Friday that progress between Iran and Oman could soon restore normal oil traffic, with Washington pledging to lift its blockade of Iranian ports once commercial shipping resumes unimpeded .
Key Points
- Iran's parliament is reviewing a proposed deal with Oman to jointly manage the Strait of Hormuz, which would bar US and Israeli ships from passage .
- The proposed agreement includes a fee structure covering insurance and environmental costs, plus compensation demands from hostile countries before they can use the strait .
- Fars news agency reported that Iranian naval forces struck hostile targets at the entrance to the strait on Thursday, causing oil prices to climb and stocks to fall .
- A US official told Reuters on Friday that Washington expects a deal soon and will lift its blockade of Iranian ports once commercial shipping resumes without impediments .
- Before the February 28 attack by the US and Israel, approximately one-fifth of global oil consumption transited through the Strait of Hormuz .
Why It Matters
The Strait of Hormuz remains one of the world's most critical energy chokepoints, and its closure has sent global energy prices surging while fueling inflation worldwide . The competing demands from both sides—Iran seeking to restrict US and Israeli access while Washington demands unconditional commercial shipping—highlight the fragility of any potential agreement and the risk of prolonged economic disruption .
The Strait of Hormuz remains one of the world's most critical energy chokepoints, and its closure has sent global energy prices surging while fueling inflation worldwide . The competing demands from both sides—Iran seeking to restrict US and Israeli access while Washington demands unconditional commercial shipping—highlight the fragility of any potential agreement and the risk of prolonged economic disruption .