Muscat: Oman has garnered support from Gulf states for a proposal allowing Tehran to collect voluntary fees for the use of the Strait of Hormuz. This initiative aims to alleviate disruptions caused to oil trade by the ongoing US-Israeli conflict with Iran.
According to TRTworld.com, President Donald Trump, who recently halted a two-week-long US bombing campaign, indicated that negotiations with Iran are progressing positively, yet he warned of resuming strikes if talks falter. Iran, however, denies any intent to negotiate with the United States.
The US had resumed its bombing campaign earlier this month to dismantle Iran's control over the strait, a critical passage for global oil and liquefied natural gas. Iran had closed the strait to non-Iranian ships following attacks by the US and Israel on February 28. Although a temporary agreement partially reopened the strait, it collapsed in July after Iran attacked non-approved ships using the channel.
Iran has proposed managing the strait jointly with Oman, aiming to charge service fees, while the US insists on a return to pre-war conditions with free passage. The Omani plan suggests voluntary fees, akin to the system in the Strait of Malacca, supporting navigation and environmental initiatives.
Iran's Foreign Minister Abbas Araghchi discussed regional cooperation on the Strait of Hormuz with Omani and Saudi officials, highlighting the necessity for collaborative efforts, as stated by the Iranian foreign ministry.
President Trump decided to halt air strikes based on military advice, noting the campaign's completion. The US bombing had caused significant casualties and infrastructure damage in Iran, which retaliated by targeting US bases and civilian sites in the Gulf.
Despite Iran's conditional ceasefire, drone attacks were reported in Jordan, Saudi Arabia, and northern Iran, with another drone downed in Jordan on Tuesday. Trump remains hopeful for a resolution to the five-month conflict but emphasizes the possibility of renewed US strikes if negotiations do not succeed.
The US and Iran had previously agreed on a framework for talks by August to address major issues, including Iran's nuclear program. However, disagreements persist over the strait's governance, with the US advocating for free passage and Iran asserting its right to oversee transit.
In the aftermath of the halted US bombing, oil prices have dropped significantly, with Brent crude futures falling by over 2.5% to $86 a barrel. President Trump is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu in Washington, amid strained relations and complex peace negotiations involving Tehran.