'Iran says Hormuz future to be decided with Oman after war'

 Iran’s Foreign Minister Abbas Araghchi said the future of the Strait of Hormuz would be decided jointly by Iran and Oman after the war, according to an exclusive interview with Al Jazeera broadcast on Wednesday.

Araghchi stated that the waterway lies within the territorial and internal waters of Iran and Oman, and that any post-war arrangements regarding transit and governance would be determined solely by the two coastal states.

“The reality is that it lies within the internal waters of Iran and Oman,” he said. “What arrangements will be considered after the war is a matter related to Iran and Oman.”

The Strait of Hormuz is one of the world’s most critical shipping chokepoints, through which roughly 20 per cent of global seaborne traded oil and significant volumes of liquefied natural gas pass from Gulf producers to international markets.

These remarks come one month into the current war between Iran, Israel, and the United States, which began with surprise Israeli and US airstrikes on Iranian targets on February 28. Since the outbreak of hostilities, Iran has exerted greater control over the Strait of Hormuz as a wartime measure.

Araghchi said the strait remains open, but access is restricted for countries involved in the conflict with Iran.

“From our point of view, the Strait is currently open and is closed only to those who are at war with Iran,” he said.

He added that vessels from other countries have continued to pass through, with many engaging directly with Iran to arrange safe transit.

“Some of them have entered into negotiations with us… and for many of them, especially those from friendly countries, we have put arrangements in place so they can pass through the Strait safely,” he said.

As part of these arrangements, Iran has been imposing significant fees, reportedly up to $2 million per tanker in some cases, for safe passage. These payments are often coordinated directly with Iranian authorities, sometimes in non-USD currencies such as Chinese yuan.

China, one of the largest buyers of Iranian and Gulf oil, has had mixed experiences. Several Chinese and Hong Kong-flagged tankers initially turned back in late March after warnings from Iran’s Islamic Revolutionary Guard Corps (IRGC). Others later secured passage after direct negotiations and arrangements with Iranian authorities.

Araghchi emphasised that ensuring navigation safety, environmental protection, and traffic management in the strait should be handled by the coastal states.

“Ensuring the safety of ship passage, addressing environmental issues, navigation, traffic and regulations all require order and arrangements that pertain to the coastal states of this strait, Iran and Oman,” he said.

He also described the strait’s potential future role as a “waterway of peace” once the conflict ends.

The partial restrictions and disruptions in the Strait of Hormuz have caused significant volatility in global energy markets. Oil prices spiked sharply after the late February strikes, with Brent crude pushing toward and above $100 per barrel at peaks. Daily tanker traffic has dropped dramatically, leading to higher global energy costs, increased gasoline prices in many countries, and the release of strategic reserves by consuming nations to ease supply pressures.

Araghchi made the remarks as part of a wider interview discussing regional security and Iran’s position in the ongoing conflict.

https://www.arabianbusiness.com/politics/iran-says-hormuz-future-to-be-decided-with-oman-after-war