Iran Says It Is Working With Oman, International Bodies on Strait of Hormuz Security Framework

Iran said it is working with Oman and international bodies to build a security framework for the Strait of Hormuz, as debate continues over maritime traffic controls in the Middle East.

Walter Bloomberg reported on May 20 that an Iranian Foreign Ministry spokesman said Tehran is cooperating with Oman and international specialized organizations to establish a system aimed at ensuring lasting security in the Strait of Hormuz.

Iran has in recent months repeatedly called for a framework to manage passage through the strait and guarantee safe transit.

Tehran had previously unveiled plans for a new management system for the waterway, including designated shipping lanes and a transit-fee structure.

The Strait of Hormuz is a critical oil chokepoint that handles about 20% of global seaborne crude shipments.

With tensions between the U.S. and Iran rising, the safety of shipping through the strait and the stability of oil supply chains have emerged as major global risks.

Markets are closely watching how cooperation between Iran and Oman, and any changes to the strait's control framework, could affect international oil prices and the global shipping market.