Iran said Wednesday it is in the “final stage”: of drafting an agreement with Oman over the Strait of Hormuz, and US President Donald Trump has said a deal could be announced this week.
Asia One reports it could potentially reopen the critical waterway, ease pressure in the world economy and help bring an end to the war.
But the agreement is likely to be contingent on the US lifting its blockade on Iran’s ports.
The Trump administration has previously ruled out any deal that would cement Iran’s grip over the strait, which would amount to a major loss for the US and a break with global norms.
Iran has insisted on some measure of control over the strait, saying it will not go back to being an open international waterway, as it was before the war.
The US, along with Israel, launched the war on February 28, citing various goals including toppling Tehran’s government and ending its nuclear propaganda.
