Iran and Oman reach agreements on share of Hormuz and revenues, Revolutionary Guards say - Reuters

**Iran and Oman Strike Deal on Hormuz Revenue Sharing**

Tehran and Muscat announced on Tuesday that they have reached a provisional agreement on how to divide navigation rights and associated revenues from the strategic Strait of Hormuz, a key chokepoint for global oil shipments. According to Iran’s Islamic Revolutionary Guard Corps (IRGC), the pact outlines a joint framework for managing a new temporary shipping lane that will operate alongside the existing route, allowing both countries to collect transit fees and share customs duties on vessels passing through the narrow waterway. The agreement, described by the IRGC as “mutually beneficial and in line with international maritime norms,” is intended to ease tensions that have periodically flared over security concerns and alleged violations of maritime law.

The development comes amid a broader diplomatic push by Iran to solidify its regional partnerships while also tightening control over commercial traffic. Earlier this week, Tehran issued a blacklist of 45 vessels—among them several Indian and Pakistani tankers—accusing them of “Hormuz violations” such as unauthorized navigation and failure to submit required documentation. In response, at least three major Indian oil companies have announced plans to steer clear of any ships appearing on Iran’s list, opting instead for alternative routes that comply with the new regulations. Oman’s participation in the revenue‑sharing scheme is seen as a stabilising factor, given its longstanding role as a neutral mediator in Gulf maritime disputes.

Financial markets reacted swiftly to the news. Brent crude prices slipped by roughly 1 % after the announcement, reflecting investor optimism that the Iran‑Oman accord could lead to a more predictable flow of oil through Hormuz, which handles about a fifth of the world’s petroleum trade. Analysts at the Wall Street Journal noted that a reopened and jointly administered corridor could reduce the risk premium that has kept oil prices elevated amid recent geopolitical friction. While the agreement remains temporary and subject to further negotiation, officials from both Tehran and Muscat have indicated a willingness to extend the arrangement if it proves effective in safeguarding maritime safety and boosting revenue for the two nations.