Iran and Oman exchange proposals to manage Strait of Hormuz

Core Impact Points

• Oman's proposal is based on the Strait of Malacca model, where ships contribute voluntarily to fund navigation, environmental protection, and search-and-rescue operations.
• Iran rejects an Omani proposal for an equal division of transit routes, citing security concerns, and instead proposes managing shipping through its side of the strait.
• The US has suspended air strikes against Iran, and regional mediators are pushing for a diplomatic solution to resume shipping in the Strait of Hormuz.
• The Strait of Hormuz carried one-fifth of global energy supplies before the US-Israel war on Iran, and its closure has caused significant disruptions to trade.
• Iran's deputy foreign minister, Kazem Gharibabadi, warned that Tehran will consider 'any action' to maintain control over the strait, including the resumption of war.
• The Gulf Cooperation Council (GCC) foreign ministers met via video call to discuss ways to improve cooperation on issues surrounding freedom and navigation through the waterway.