Iran and Oman Agree on Temporary Commercial Corridor in Strait of Hormuz

Iran and Oman have agreed to establish a temporary commercial shipping corridor through the Strait of Hormuz though Tehran insists the strategic waterway remains "militarily closed."

Iranian Deputy Foreign Minister Kazem Gharibabadi announced that the temporary route will function as a two-way channel exclusively for commercial vessels. Under the new arrangement the entry lane will pass through Iranian waters and the exit through Omani territory. A permanent route must be negotiated within 60 days.

Dismissing US President Donald Trump’s claims that the strait has been cleared of mines Gharibabadi stated that only Iran knows their true locations. The lingering danger was underscored on Tuesday when an unidentified projectile disabled an oil tanker near Oman's Ash Shishah.

The maritime agreement comes amid a prolonged US-Iran standoff that previously halted a fifth of global oil shipments. In a renewed effort to cripple Iran's economy the Washington recently threatened secondary sanctions on countries trading with Tehran. Despite these threats the global oil prices have fallen for a second consecutive day.

While direct military hostilities have subsided enough for the US to begin returning some diplomatic staff to the Middle East with severe geopolitical tensions remain. Gharibabadi warned that Iran reserves the right to preemptive action to defend its national security. Furthermore the US Secret Service is currently investigating an Iranian state television broadcast that allegedly discussed a $10 million bounty and assassination plot against Trump’s youngest son Barron.