The U.S. and Iran Close to Reaching Temporary Strait of Hormuz Agreement, Targeting Wednesday Announcement

August 5th, according to Axios, the United States, Iran, and Oman are close to reaching a temporary agreement to reopen the Strait of Hormuz, with the U.S. aiming to announce the arrangement as early as Wednesday.

According to two regional sources and a U.S. official, the agreement has been under negotiation for several weeks, aiming to restore the U.S.-Iran ceasefire and advance the resumption of nuclear deal negotiations. President Trump had previously considered a large-scale military strike against Iran but decided last Saturday to hold off on action to allow time for diplomatic talks.

The reported agreement under discussion would establish a 60-day temporary arrangement, extendable based on circumstances. Under the plan:

Ships entering the Persian Gulf would transit through the northern corridor of Iranian waters;

Ships exiting the Strait of Hormuz towards the Arabian Sea would pass through the southern corridor of Omani waters and coordinate with Iran;

No tolls would be levied during the temporary period;

All parties would clear mines from the central channel of the strait within 30 days;

Once cleared, the central channel would be used for two-way traffic and set the foundation for long-term arrangement negotiations.