Azernews.Az

Ulviyya Poladova

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The United States, Iran, and Oman are reportedly close to reaching a temporary agreement on the reopening of the Strait of Hormuz, with the U.S. planning to announce the deal on Wednesday, AzerNEWS reports.

According to Axios, citing a U.S. official, the agreement has been under negotiation for several weeks. Its main objective is to restore the ceasefire between the United States and Iran and resume negotiations on a new nuclear agreement.

It was reported that the proposed arrangement would address some of Iran's demands for greater control over shipping through the Strait of Hormuz. The source said the draft agreement envisions a 60-day temporary arrangement between Oman and Iran regarding the Strait of Hormuz, with the possibility of extending the agreement beyond that period.

The Strait of Hormuz is a narrow maritime passage between the Persian Gulf and the Gulf of Oman, holding significant strategic importance as approximately 20% of global oil supplies and around 25% of liquefied natural gas (LNG) exports pass through it. Essentially, it serves as an energy artery for countries in Asia, Europe, and even the United States.

The strait separates Iran from Oman, and in some areas, the width of the shipping channel is only two miles on each side. Given its critical role in global energy supply chains, ensuring the safety and security of this vital waterway is paramount for international trade and economic stability.