The reported framework would establish a 60 day arrangement under which inbound commercial shipping would transit through Iranian waters, outbound traffic would use Omani waters in coordination with Iran, no transit fees would be charged, and both sides would work to clear naval mines from the strait’s median shipping lane before negotiating a permanent agreement.
If finalized, the deal would mark a significant shift from pre-war arrangements by giving Iran a formal role in managing commercial traffic through the world’s most important oil chokepoint. It would also likely preserve the ceasefire, reopen the door to broader U.S.-Iran negotiations, and avert the large scale U.S. military strikes President Trump has repeatedly threatened in recent days. According to Axios, the agreement was mediated by Oman with support from Qatar, Saudi Arabia, and Pakistan, while U.S. envoy Steve Witkoff held direct discussions with Iranian Foreign Minister Abbas Araghchi in recent days.