Tehran, Iran. Oman has presented Iran with a proposal for a joint regional mechanism to manage the Strait of Hormuz, funded through voluntary contributions from users of the waterway, a Gulf source told Reuters on Tuesday.
The proposal, presented to Iranian officials in Tehran over the weekend, would mean Iran would not exercise sole control over the strait, the source said.
Proposal details
The proposed mechanism is based on the management model of the Strait of Malacca, which connects the Indian and Pacific Oceans and is jointly managed by Indonesia, Malaysia and Singapore.
Under the Omani plan, users of the Strait of Hormuz would voluntarily contribute to a fund to cover navigation management, environmental protection, search and rescue services and other costs.
Negotiations over the waterway
Management of the Strait of Hormuz, which carried a fifth of global oil and liquefied natural gas before the conflict, has become a key obstacle in talks aimed at ending the Iran war and a source of repeated escalation.
Iran has said the strait cannot return to its pre-war status of unrestricted shipping, while Gulf states have insisted that Iran should not impose mandatory fees.
Iranian Foreign Minister Abbas Araqchi discussed the strait with his Omani and Saudi counterparts on Monday.
According to Iran’s foreign ministry, Araqchi stressed the need to strengthen cooperation and advance joint diplomatic efforts to establish regional stability and address insecurity in the Strait of Hormuz attributed to United States actions.
US position
US President Donald Trump said on Monday that the United States was holding “good talks” with Iran and that a deal was possible.
He warned that US strikes would resume if negotiations did not produce an agreement.