Oman Offers Iran Regional Mechanism to Manage Strait of Hormuz

Oman has presented a proposal to Iran for a joint regional system to manage the Strait of Hormuz, according to a Gulf source who spoke to Reuters on Tuesday.

Under the Omani proposal, countries using the important waterway would voluntarily pay fees to support navigation, environmental protection and search and rescue operations. The proposal has received regional support.

The plan is based on the system used in the Strait of Malacca, where countries and users voluntarily contribute funds to help manage the waterway and support safety and environmental protection.

The proposal would also mean that Iran would not have sole control over the Strait of Hormuz, the source said.

The development comes after the United States unexpectedly suspended its campaign of air strikes against Iran over the weekend. The move has raised hopes that diplomatic efforts could help end the conflict and allow shipping to return to normal through the Strait of Hormuz.

The waterway is one of the world’s most important energy routes and carried around one-fifth of global energy supplies before the conflict began.

US President Donald Trump said on Monday that the United States was having “good talks” with Iran and that there was a possibility of reaching a deal. However, he warned that US strikes could resume if negotiations failed to produce an agreement.

Iranian Foreign Minister Abbas Araqchi also discussed the situation around the Strait of Hormuz with his Omani and Saudi counterparts on Monday.

According to a statement from Iran’s foreign ministry, Araqchi “emphasised the need to strengthen cooperation and advance joint diplomatic efforts to establish stability in the region, and lift the insecurity imposed on the Strait of Hormuz due to the aggressive actions of the United States.”

The Omani proposal could provide a possible framework for regional cooperation over the Strait of Hormuz and help improve security and stability in the key waterway.