Middle East — 2026-08-05

US Iran and Oman Near Interim Agreement to Reopen Strait of Hormuz With Wednesday Target

BLUFGranting Iran a dedicated inbound lane it did not control before the conflict establishes a strait precedent Tehran will invoke in future negotiations regardless of whether the 60-day arrangement holds.

The US, Iran and Oman are nearing an interim deal to reopen the Strait of Hormuz, with Washington targeting a Wednesday announcement, according to Axios, citing two regional sources and a US official 1. Iranian Foreign Minister Abbas Araghchi agreed to the terms over the weekend, and a US official and regional source said Iranian leadership completed its approval process on Tuesday 12. The proposed 60-day arrangement would route inbound Gulf traffic through a northern lane in Iranian waters and outbound traffic through a southern lane in Omani waters, with no tolls during the initial period and mine clearance of the median lane targeted within 30 days 12. Treasury Secretary Scott Bessent said Tuesday a deal could come "today or tomorrow" to open the strait 34, while US Central Command said the strait's southern route remained "free and open," citing over 1,000 vessel transits in the past three months 3. Qatari, Pakistani and Saudi officials also took part in the mediation alongside Oman, and Trump paused planned military strikes over the weekend to allow the talks to continue 1.

Analysis
Iranian approval, a public US timeline, and a narrowly scoped operational text have converged for the first time in this Hormuz negotiation, a combination absent from the two prior rounds that collapsed into renewed strikes. Moderate confidence rests on four independent primary accounts converging on the same terms even though neither Khamenei's formal ratification nor Wednesday's announcement is yet confirmed. Bessent's public commitment and CENTCOM's free-and-open messaging could just as easily reflect market-calming signaling timed to Tuesday's oil selloff as confirmation that Tehran's approval is final. Confirmation would shift the ceasefire's center of gravity from a bombing pause to an administered maritime regime, reshaping oil-market risk pricing and Washington's leverage into any nuclear talks, while the inbound lane granted to Iran sets a precedent Tehran can invoke in future strait negotiations regardless of whether this announcement holds.

6 sources

U.S. nears Hormuz deal, aiming for Wednesday announcement - Axios
US, Iran, Oman edge closer to deal that could temporarily reopen Strait of Hormuz - report - Jerusalem Post
U.S. says Strait of Hormuz is 'free and open' as Bessent signals deal with Iran is close - CNBC
Bessent Suggests US-Iran Hormuz Deal Possible in Coming Days - Bloomberg
Iran and Oman Make Progress on a Deal to Reopen the Strait of Hormuz, Officials Say - Associated Press
US, Iran and Oman near interim deal to reopen Strait of Hormuz - InvestingLive