Tehran/Muscat, Aug. 7 -- Iran and Oman are close to finalising a new framework for managing commercial shipping through the Strait of Hormuz, with Tehran calling the proposal akin to a new security model for the strategic waterway rather than a complete reopening of the Strait, reported Iran's state news agency IRNA.
According to the state media, the proposed arrangement would oversee the entry of commercial vessels in the Persian Gulf through Iranian waters and their departure via Omani waters.
The agency said the negotiations are geared towards the establishment of "a new model that is different from the 60-year-old practice of the past," under which commercial vessels transited the Strait without the arrangements now being proposed by ...