US, Iran Near Strait of Hormuz Agreement
US President Donald Trump has claimed that an agreement to reopen the Strait of Hormuz could be reached this week. Trump stated that "significant progress" has been made in the talks and a major announcement could be made within the next day or two. Negotiations between Iran and Oman regarding this vital waterway are in their final stages.
It is worth noting that the US, alongside Israel, initiated the conflict on February 28. The objectives included overthrowing the government in Tehran and dismantling its nuclear program. However, these goals were not achieved, and the confrontation evolved into a battle for control over the Strait of Hormuz. During the conflict, Iranian attacks brought maritime trade passing through the strait to a near-standstill, disrupting global oil and gas supplies and causing a surge in fuel and essential commodity prices in international markets.
According to a US State Department official, the second day of talks between the US, Iran, and Oman in Rome ended prematurely due to "developments on the ground," though the discussions remained highly positive. Negotiations could resume on Thursday if necessary.
**Iran and Oman Draft Agreement**
According to regional officials, negotiators from Iran and Oman have drafted an agreement to reopen the strait. It now awaits final approval from Iran's Supreme Leader, Ayatollah Mojtaba Khamenei. Officials state that this agreement would be an interim arrangement, potentially paving the way for the resumption of talks between the US and Iran regarding the nuclear program.
However, the US has already made it clear that it will not support any arrangement that allows Iran to establish control over the Strait of Hormuz or levy security fees on passing vessels.
Hopes for an agreement initially led to a drop in oil prices in international markets, though prices subsequently rose again. On Wednesday, the price of Brent crude stood at approximately $80 per barrel—still lower than the levels seen at the height of the conflict.
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