Oman Proposes Joint Management Plan for Strait of Hormuz to Iran, Source Says

Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz, a critical waterway for global oil shipments, according to a Gulf source who spoke with Reuters. The plan, which reportedly has regional backing, aims to de-escalate tensions by ensuring Iran would not exercise sole control over the strait.

Details of the Proposal

The Omani proposal is modeled on the management of the Strait of Malacca, a key shipping lane in Southeast Asia. Under the plan, a system of voluntary fees would be established for vessels transiting the Strait of Hormuz.

A Gulf source told Reuters that these contributions would be used to fund key maritime services, including:

• Navigation and safety
• Environmental protection
• Search and rescue operations

Diplomatic Context

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The proposal comes amid a fragile diplomatic opening. The United States recently suspended a campaign of air strikes against Iran, and U.S. President Donald Trump said on Monday that Washington was having "good talks" with Tehran. However, he also warned that strikes could resume if negotiations fail.

Iran's Foreign Minister, Abbas Araqchi, discussed the Strait of Hormuz with his Omani and Saudi counterparts on Monday. According to a statement from Iran’s foreign ministry, Araqchi emphasized the need for joint diplomatic efforts to restore stability and lift the "insecurity imposed on the Strait of Hormuz due to the aggressive actions of the United States."

Significance for Energy Markets

The Strait of Hormuz is one of the world's most important energy chokepoints. Before the recent conflict, the waterway carried approximately one-fifth of global energy supplies. Any credible diplomatic initiative that secures the safe and free passage of shipping could significantly reduce the geopolitical risk premium in crude oil prices and bring stability to global energy markets.