Iran, Oman near new Strait of Hormuz shipping deal

Iran and Oman are moving closer to a new arrangement for managing shipping through the Strait of Hormuz, as months of conflict and disruption have put renewed focus on who controls one of the world's most important energy corridors.

Oman has proposed a regional mechanism inspired by the Strait of Malacca, while Iran has put forward a counterproposal that would give Tehran greater oversight of vessels entering and leaving the Gulf.

Iran's Foreign Ministry spokesperson Esmaeil Baqaei said Monday that it is not engaged in negotiations with the US and that it is working with Oman to establish "a temporary route" in the Strait of Hormuz to ensure safe navigation through the strategic waterway.

Earlier, Iranian Foreign Minister Abbas Araghchi said negotiations with Muscat were close to being finalized around a route that respects the sovereignty of both countries.