Washington DC [US], August 5 (ANI): The United States is close to finalising an interim agreement with Iran and Oman to reopen the Strait of Hormuz, which has once again witnessed heightened tensions following the collapse of the 14-point Memorandum of Understanding (MoU) between Washington and Tehran last month, reported Axios.
The US is aiming to announce the deal on Wednesday, Axios reported, citing two regional sources and a US official.
According to the Axios report, the proposed arrangement is intended to restore the ceasefire between the US and Iran, which collapsed last month, and pave the way for the resumption of negotiations with Tehran, including its nuclear programme.
The development comes after US President Donald Trump decided on Saturday not to proceed with previously threatened large-scale military strikes against Iran, opting instead to allow more time for diplomatic efforts after consultation with the Gulf Partners.
However, if an agreement is not reached soon, Trump had threatened to still authorise major military action on the Islamic Republic.
As reported by Axios, the draft agreement under discussion envisages a 60-day temporary arrangement between Oman and Iran governing maritime traffic through the Strait of Hormuz, with the possibility of an extension.
Under the proposed framework, all inbound vessel traffic entering the Gulf would transit through a northern shipping lane in Iranian waters, while outbound traffic heading towards the Arabian Sea would use a southern lane in Omani waters in coordination with Iran.
The report further said that no tolls or transit fees would be imposed during the 60-day period.
The proposed arrangement also includes a plan to clear naval mines from the median shipping lane within 30 days, as reported by Axios.
Once the lane is cleared, it would be used for both inbound and outbound maritime traffic under the terms of a permanent agreement to be negotiated between Oman and Iran, Axios reported.
According to the report, the White House, Oman and regional mediators had believed they had secured a similar understanding with Iran nearly three weeks ago.
However, the effort collapsed after Iran allegedly resumed attacks on ships, triggering two weeks of fighting that brought the region close to a broader conflict.
Citing regional sources, Axios reported that, alongside talks between Oman and Iran, officials from Qatar, Pakistan and Saudi Arabia also played roles in mediation efforts.
The report further said that the White House remained actively involved in the negotiations.
According to Axios, in recent days, US Special Envoy Steve Witkoff held multiple conversations with Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr al-Busaidi as part of efforts to finalise the agreement.
According to two regional sources cited by Axios, Araghchi agreed in principle to the proposed arrangement over the weekend but required approval from Iran's Supreme Leader, Mojtaba Khamenei, and the country's Supreme National Security Council to finalise the matter.
A US official and a regional source told Axios that Iran's leadership completed the approval process on Tuesday, bringing the parties closer to a formal announcement. (ANI)