Oman proposes regional mechanism for Strait of Hormuz management: Source
Under the Omani proposal, which the source said has regional backing, Iran would not exercise sole control over the strategic waterway
Oman has presented Iran with a proposal for a joint regional mechanism to manage the Strait of Hormuz that would be funded through voluntary user fees, a Gulf source told Reuters on Tuesday.
Under the Omani proposal, which the source said has regional backing, Iran would not exercise sole control over the strategic waterway.
The proposal is modelled on the Strait of Malacca, where users of the shipping route voluntarily contribute funds for navigation, environmental protection, and search-and-rescue operations.
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The proposal comes after the United States abruptly suspended a campaign of air strikes against Iran over the weekend, raising hopes of a diplomatic solution that could allow shipping to resume through the Strait of Hormuz, which carried about one-fifth of global energy supplies before the conflict.
U.S. President Donald Trump said on Monday the United States was having "good talks" with Iran and that there was a chance of reaching a deal, but warned that U.S. strikes would resume if negotiations failed to produce results.
Iranian Foreign Minister Abbas Araqchi discussed the Strait of Hormuz with his Omani and Saudi counterparts on Monday.
"He emphasised the need to strengthen cooperation and advance joint diplomatic efforts to establish stability in the region, and lift the insecurity imposed on the Strait of Hormuz due to the aggressive actions of the United States," according to a statement from Iran's foreign ministry.
