Oman Proposes Joint Strait of Hormuz Management, Voluntary Transit Fees to Iran
Summary
- Oman proposed a joint management framework for the Strait of Hormuz and voluntary transit fee collection to Iran.
- Proposals for a ceasefire from mediating countries and the US and Iran's halt to airstrikes are raising expectations for the resumption of shipping through the Strait of Hormuz.
- President Donald Trump and Iran's foreign minister referred to the possibility of an agreement and the need for diplomatic efforts as they seek stability in the region.
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Oman has proposed that Iran establish a joint management framework for the Strait of Hormuz that would include voluntary transit fees, Reuters reported on July 28, citing regional sources.
Under the Omani proposal, which is backed by countries in the region, Iran would no longer exercise sole control over the strait, one source told Reuters.
The proposal is modeled on the Strait of Malacca. Under that system, users of the waterway voluntarily contribute funds for navigation, environmental protection and search-and-rescue operations.
Iran has argued that the US recognized its control over the Strait of Hormuz under Article 5 of an earlier memorandum of understanding between the two countries. Citing that clause, Iran has recently attacked ships several times when they sought to pass through the strait outside designated shipping lanes.
The US responded with airstrikes on Iran, and Tehran retaliated against US military bases in the region, stoking fears of a return to full-scale war. But Washington abruptly halted air operations targeting Iran after July 23. Iran has also stopped military action against the US.
At the same time, mediating countries including Pakistan and Qatar have floated proposals including a 10-day ceasefire, raising hopes for a diplomatic solution that would allow shipping through the Strait of Hormuz to resume.
President Donald Trump said the US was having "good talks" with Iran and that an agreement was possible. He also warned that US airstrikes would resume if the negotiations failed.
Against that backdrop, Iranian Foreign Minister Abbas Araghchi discussed the Strait of Hormuz by phone the previous day with the foreign ministers of Oman and Saudi Arabia.
According to a statement from Iran's Foreign Ministry, Araghchi stressed the need to strengthen cooperation and advance joint diplomatic efforts to build regional stability and address instability in the Strait of Hormuz caused by what he called aggressive US actions.
Ko Jeong-sam, Hankyung.com reporter, jsk@hankyung.com
Korea Economic Daily
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