Iran and Oman Plan Joint Management of Shipping in Strait of Hormuz

Iran and Oman issued a joint statement on Tuesday announcing plans to jointly manage commercial shipping traffic through the Strait of Hormuz. The statement said the two countries will provide services in line with international standards and that costs will be associated with those services.

Background on the Agreement Both nations share coastlines along the waterway that carries oil and other exports from the Persian Gulf. The statement reiterated their sovereignty and sovereign rights over territorial waters in the strait and their commitment to maintaining it as a secure and open waterway for international navigation.

A memorandum of understanding signed last week serves as an interim peace deal while a more permanent agreement is negotiated.

The memorandum requires Iran to conduct a dialogue on the future of maritime services in the strait in line with applicable international law. It does not prohibit charging fees for passage.