Iran and Oman Agree on Strait of Hormuz Revenue Sharing
Iran and Oman have reached an agreement on sharing revenues from the Strait of Hormuz after a month of discussions. The Iranian Revolutionary Guard Corps stated that both countries have settled on their respective shares of the waterway and its revenues. However, Iran has warned that the strait will remain closed unless the United States accepts its demands, which include lifting sanctions and returning to a previous agreement. The Strait of Hormuz is crucial for global energy, carrying about one-fifth of the world's oil and liquefied natural gas shipments. Despite the agreement with Oman, Iran has emphasized that it will not fully reopen the waterway without US compliance. The strait has been largely closed since February 28, although some vessels continue to navigate through it amid ongoing tensions.
Published 3 days ago • 26 Aug 2026, 07:49 PM IST