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Iran Parliament Speaker Says Strait of Hormuz Should Be Jointly Managed by Iran, Oman
Summary
- Mohammad Bagher Ghalibaf, Iran’s parliament speaker, said the Strait of Hormuz should be jointly managed by Iran and Oman.
- He said a recently signed memorandum of understanding with the US stipulates that Iran and Oman would jointly manage the Strait of Hormuz.
- The Strait of Hormuz is a key route for shipments of Middle Eastern crude oil and liquefied natural gas (LNG), and control of the strait and stability of transit have emerged as key market variables.
Iran’s parliament speaker said the Strait of Hormuz should be jointly managed by Iran and Oman.
Odaily, a cryptocurrency-focused media outlet, reported on July 3, citing Xinhua, that Mohammad Bagher Ghalibaf made the comment during a meeting that day with Iraq’s parliament speaker.
Ghalibaf said the Strait of Hormuz should be jointly administered by Iran and Oman. He added that a recently signed memorandum of understanding with the US includes that provision.
According to Ghalibaf, the memorandum stipulates joint management of the strait by Iran and Oman.
He also said Iran is listening to the views of Persian Gulf coastal states, including Iraq, on the issue.
The Strait of Hormuz is a key route for shipments of Middle Eastern crude oil and liquefied natural gas, or LNG. As discussions continue over implementation of a temporary peace agreement between the US and Iran, who controls the strait and whether transit remains stable have become major market variables.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.