Tehran, Aug. 6 -- Iran and Oman are close to "finalising a landmark agreement" to reopen the Strait of Hormuz, with Tehran set to gain a significant role in overseeing ships entering the Gulf through the strategic waterway, according to Iranian and regional officials familiar with the negotiations.
The proposed arrangement would mark one of the biggest concessions to Iran in efforts to restore commercial maritime traffic through the narrow passage, a vital artery for global oil and gas shipments.
Iranian Foreign Ministry spokesman Esmail Baghaei said, "Tehran and Muscat had reached a mutual understanding on the geographical parameters of the proposed route and that a joint announcement was being prepared.""The two sides had reached a mutu...