RESOLVING THE LEDGER
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See the full story · 5 sourcesA vessel near the Strait of Hormuz, as seen from Musandam, Oman, August 24, 2026. REUTERS/Stringer
Aug 27 - Iran is preparing a list of conditions for reopening the Strait of Hormuz after mediators asked Tehran to set them out, said Mohsen Rezaei, secretary of Iran's Supreme National Security Council, adding that ending the regional war was among them.
Rezaei said Iran had agreed with Oman on a shipping corridor through the strait, with parts of the route in Omani waters and parts in Iranian waters. Ships would use a designated central channel if the U.S. met Iran's conditions, he said through an interpreter in an Al Manar TV interview.
On Wednesday, a senior source said Iran and Oman were still working on details of an agreement on the waterway after Iran's Revolutionary Guards said the two countries had agreed on how to share control of the strait and its revenues.
A Guards spokesperson said Iran would not allow the strait to reopen unless Washington lifted what Tehran describes as a blockade of Iranian ports while also paying compensation and removing sanctions.
Before the war began in February, the strait carried roughly one-fifth of global oil and liquefied natural gas shipments. Shipping through the waterway has largely stopped since then. Ceasefire agreements announced by Washington and Tehran in April and June were intended to restore maritime traffic, but did not hold. REUTERS
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