Tehran, Muscat agree to split Hormuz shipping revenues

Iran and Oman have reached an agreement to share revenues generated from maritime traffic through the Strait of Hormuz, Islamic Revolutionary Guard Corps (IRGC) representative Hossein Mohebbi said.

“During these negotiations, agreements were reached on each country’s share of the waters of the strait, as well as on the respective shares of Iran and Oman in the revenues,” Tasnim quoted Mohebi as saying.

Mohebi stressed that the strategic waterway belongs to both Iran and Oman, adding that the strait would be reopened if the United States adheres to previously reached agreements.

The remarks come amid heightened tensions over the status of the Strait of Hormuz, a vital global shipping route.

The United States and Israel launched a war against Iran on February 28. In June, Washington and Tehran signed a memorandum of understanding calling for an immediate cessation of hostilities on all fronts, including in Lebanon.

However, the United States resumed large-scale strikes on Iran overnight on July 8, accusing Tehran of violating the terms of the agreements concerning the Strait of Hormuz.

By Vafa Guliyeva