US set to announce interim Strait of Hormuz deal with Iran on August 5

The United States, Iran and Oman are nearing an interim agreement to reopen the Strait of Hormuz, with Washington hoping to announce the deal on Wednesday, August 5, according to two regional sources and a US official.

The agreement, negotiated over several weeks, is designed to restore the ceasefire between the US and Iran while paving the way for renewed talks on Tehran's nuclear programme, Caliber.Az reports, citing Axios.

Under the proposed arrangement, Iran would gain greater oversight of shipping through the Strait of Hormuz than it held before the conflict.

According to the sources, the draft agreement establishes a 60-day temporary arrangement between Oman and Iran that could later be extended. It provides for vessels bound for the Persian Gulf to transit through Iranian territorial waters, while outbound traffic would pass through Omani waters in coordination with Tehran. The arrangement does not include any transit fees for commercial shipping.

The parties would also begin clearing naval mines from the strait's median shipping lane within 30 days. Once the route is cleared, it would handle traffic in both directions under the terms of a permanent agreement to be negotiated by Oman and Iran.

US President Donald Trump recently decided not to proceed with a large-scale bombing campaign against Iran, opting instead to give diplomacy more time. However, if negotiations fail to produce an agreement soon, he could still authorise major military strikes.

By Jeyhun Aghazada